02-27-2003

Printable Version

For the fourth quarter 2002, Univision will report an increase in EPS of 180% to approximately $0.14 at the high-end of its latest guidance of $0.11 to $0.14 and above the current First Call consensus estimate of $0.12; and an increase in consolidated EBITDA of 35% to approximately $104 million, which is toward the high-end of its latest guidance of $92 to $106 million and in excess of the current consensus estimate of approximately $101 million.

Univision will announce its fourth quarter and full year 2002 financial results after the closing of its acquisition of Hispanic Broadcasting Corporation (NYSE: HSP) so that it can provide guidance for the first quarter 2003 on a combined basis.  Subject to shareholder and FCC approvals, Univision expects to close the transaction on or about March 14, 2003.  Univision expects to release its fourth quarter and full year 2002 financial results on March 19, 2003, after the close of the market, followed by a conference call.

Univision Communications Inc. (NYSE: UVN) is the premier Spanish-language media company in the United States.  Its operations include: Univision Network, the most-watched Spanish-language broadcast television network in the U.S. reaching 97% of U.S. Hispanic households; TeleFutura Network, the new 24-hour general-interest Spanish-language broadcast television network reaching 74% of U.S. Hispanic Households; Univision Television Group, which owns and operates 22 Univision Network television stations and 1 UPN television station; TeleFutura Television Group, which owns and operates 27 TeleFutura Network television stations; Galavisión, the country’s leading Spanish-language cable network; Univision Music Group, which includes the Univision Music label, Fonovisa Records label, Rudy Perez Enterprises label and a 50% interest in Mexican based Disa 
Records label as well as Fonomusic and America Musical Publishing companies; and Univision Online, the premier internet company in the U.S. Hispanic market located at www.univision.com.  Univision Communications is headquartered in Los Angeles with network operations in Miami and television stations and sales offices in major cities throughout the United States.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about future financial and operating results and Univision Communications’ anticipated acquisition of Hispanic Broadcasting Corporation.  These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements.