Univision is the perfect company to study if you’re into conspiracies. Everywhere you turn, there is another “dot to connect”.
Univision TV started in the early 1960s as a network of Spanish language TV stations in the United States – backed by ownership interests from Mexico and Venezuela.
In 1986 (Ronald Reagan era), the FCC ruled Univision violated the rules prohibiting foreign control of US TV licenses and forced Univision to be sold to United States interests – which turned out to be Hallmark (the greeting people card folks and operator of the Hallmark Channel on cable TV). They borrowed money to acquire the company and the company failed in 1992. (George H.W. Bush is president then). The company wound up in the hands of a Hollywood talent agent who was the force behind Elton John’s career and the Ali Frazier Fight, and worked closely with Norman Lear on All In The Family. OMG – left wing media conspiracy!
Then in 2003, Univision acquired Hispanic Broadcasting Company, a Spanish Language radio company that was a merger between a radio company owned by Clear Channel and the Tichenor family, who are close friends with George H.W. Bush… OMG! OMG!
But hold on, the guy running Univision was also a major contributor to the Republican Party, a friend of George W. Bush, and was the co-chair of finances for John McCain’s campaign in 2008. (I wonder if he suggested McCain use only FEC funding?) Like this conspiracy yet? OMG! OMG!
In 2007, the company was “taken over” by some of the same folks who were “Taking over” Clear Channel. One of the other Private Equity partners has business ties in the Middle East. The company is now loaded with $10 billion in debt it can’t possibly handle. The interest it is “paying” on some of its debt is just funded by borrowing more money.
Univision had invested $314 million in cash (most of what thay had) in an insolvent money market fund that failed in September 2008 when Lehman went bankrupt.
It looks like Tim Geithner or the Federal Reserve may be involved through GE Capital in “bailing out” Univision and buying up their “toxic debt”. OMG! OMG!
Who owns the parent company of Univision? Mexico? Hugo Chavez in Venezuela? Clear Channel? George Soros? China? Russia? Harvard University? Tim Geithner? Dunno – does anyone in Government really care?…. Remember those huge Pro-Obama rallies that suddenly happened in Los Angeles sponsored by Spanish radio stations?… hmm…. What about former San Antonia Mayor (and HUD sectretary) Henry Cisneros sitting on the Univision board while he was also on the board of Countrywide Financial?
Or it maybe it is all just be unrelated coincidences and we’re all just paranoid reactionaries who enjoy a good conspiracy theory while clinging to our religion and guns. If you like Michael Savage’s theory that John McCain was made the Republican nominee in the 2008 election to lose on purpose – you now have a few crumbs to follow to support that theory.
If you’re interested by any of that, or want to connect more of the dots or find the connections with Gloria Estafan or Julio Iglasias, the Univision company profile is [Here].