Univision to Buy Puerto Rican Stations

Univision Communications Inc., the largest U.S. Spanish-language television and radio broadcaster, will pay about $190 million to buy two leased television stations in Puerto Rico, where the company also owns two radio stations.

Univision exercised options to buy WLII and WSUR, the company said Tuesday in a filing with the Securities and Exchange Commission.

The acquisitions fit with Century City-based Univision’s strategy of owning radio and television stations in the same areas so it can offer advertising packages and reduce selling costs, said JB Hanauer & Co. analyst David Joyce in Hallandale, Fla.

“They think it’s good for advertisers to be able to purchase a market in a number of different platforms,” Joyce said. “I think there are some minor cost savings by having both radio and TV properties in one market.”

Univision shares fell 25 cents to $28.33 on the New York Stock Exchange. The shares have fallen 29% this year.

Sales at Univision’s television networks and stations increased 16% to $328.1 million in the quarter that ended Sept. 30 as the company attracted viewers to soccer games and prime-time telenovelas, or soap operas. The company reported net income of $73.4 million, or 21 cents a share, on revenue of $477.4 million.

Brooke Morganstein, a New York-based spokeswoman for Univision, declined to comment beyond the company’s filing.