ABC NEWS AND UNIVISION NEWS PLAN TO JOIN FORCES TO CREATE PIONEERING JOINT VENTURE -- MULTIPLATFORM NEWS AND INFORMATION SERVICE FOR U.S. HISPANICS

Leading Media Company Serving Hispanic America and Global Network News Leader Intend to Serve and Empower Youngest and Fastest-Growing Demographic In the U.S. at 50 Million Strong and Growing

On-Air and Digital Offerings in English Will Deliver Culturally Relevant Content Featuring ABC News And Univision News Anchors and Correspondents

MAY 7 - NEW YORK, NY -- ABC News and Univision News today announced they have agreed in principle to form a far-reaching, multiplatform joint venture dedicated to informing, empowering and inspiring Hispanic Americans in English while providing all audiences with uncompromising coverage of current events with a unique perspective. The landmark agreement would capitalize on Univision's news leadership and expertise in reaching U.S. Hispanics and ABC's global news leadership to serve over 50 million Hispanics, the youngest and fastest-growing demographic in the U.S. The new 24/7 network will include America's first English-language channel for English-dominant and bilingual Hispanics, as well as integrated digital and social platforms. It will deliver news content focused on issues, lifestyle interests & culture of importance to Hispanics, and will feature the trusted, award-winning journalists of ABC News and Univision News. Now for the first time Hispanic Americans will have a choice for uncompromising coverage of current events and lifestyle with a Latino perspective in English. The transaction is subject to the completion of definitive agreements.

Currently Hispanics represent 16% of the total population in the United States, a number that is projected to double to 30% by 2050. Hispanics are the fastest growing segment of the population, wield considerable spending power of over $1 trillion, and have an increasing impact on social, economic and political trends.

"This exciting joint venture represents the latest example of our long-term strategy to broaden the reach of ABC. Our powerful premier news brand, combined with the world's leading Hispanic media company, will create the nation's first news and lifestyle channel targeted to this quickly expanding and important community," said Anne Sweeney, co-chair, Disney Media Networks and president, Disney/ABC Television Group.

"For more than five decades Univision has been the leader in serving Hispanics in the U.S., and this joint venture is an extension of our vision to deliver the most relevant news and information, regardless of language, to all Hispanics," Cesar Conde, president, Univision Networks. "This alliance combines the expertise and brand strength of Univision News with ABC News' leadership and is another example of Univision's commitment to serving and empowering Hispanic America while connecting all audiences to Latino issues."

"All of us at ABC News are thrilled to work with Univision," said Ben Sherwood, president, ABC News. "Our mission is clear: To offer culturally relevant news, information and lifestyle programming to the large and thriving Latino audience in the United States. In these times of rapid change, we are very excited about this opportunity."

"Univision News is proud to be working with ABC News in this groundbreaking venture to further deliver global news and investigative reporting to the fastest growing segment of the U.S. population which today is one of the most important influencers on the future of the United States and its role in the world," said Isaac Lee, president, Univision News. "It will also provide all audiences with a multiplatform current events perspective on the issues that matter most to Latinos. This is an important moment for journalism in the U.S. and for the U.S. Hispanic community."

A website, mobile and social media content are expected to debut this summer. The currently unnamed television channel is expected to launch in 2013. Editorial coverage will focus on the issues most relevant for U.S. Hispanics, including the economy, jobs, health care, immigration, education, politics, entertainment, health and wellness and more.

A management team is expected to be announced this summer. The network will have anchors and correspondents in major cities across the U.S. Additionally, ABC News and Univision News will share newsgathering and production resources.

About ABC News

ABC News delivers a big picture understanding of the world to empower and inspire viewers to make confident decisions for themselves and their families. More people get their news from ABC News than from any other source. ABC News is responsible for all of the ABC Television Network's news programming on a variety of platforms: television, radio, and the Internet. With an average television and radio audience of 180 million people in a given month, ABC News surpasses the competition. More than 2,400 affiliate stations broadcast ABC News Radio's global news coverage. In addition, ABC News NOW is a 24-hour news and information network currently available to 44 million users across cable, broadband, and mobile platforms. NewsOne, the affiliate news service of ABC News, provides live and packaged news, sports, and weather reports, as well as footage of news events, to 200 ABC affiliates and more than 30 domestic and international clients. http://abcnews.go.com/blogs/headlines/press-release/

About Univision News

Univision's award-winning News division is committed to informing the country's fastest growing segment across all media platforms, including TV, Radio, and Interactive. Hispanics count with the latest and most relevant content that impact the community through: Univision's evening, late evening and weekend national newscasts, "Noticiero Univision"; political Sunday affairs program, "Al Punto"; newsmagazine programs "Aquí y Ahora" and "Primer Impacto"; as well as morning news on "Despierta America." Univision also hosts statewide public affairs shows, "Voz y Voto," in Texas and California. In the last year, Univision has strengthened its news team and expanded its news operations by adding Investigative and Documentary Units.

About Univision Communications Inc.

Univision Communications Inc. (UCI) is the leading media company serving Hispanic America. Its assets include Univision Network, one of the top five networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the country reaching 96% of U.S. Hispanic households; TeleFutura Network, a general-interest Spanish-language broadcast television network reaching 88% of U.S. Hispanic households; Univision Cable Networks, including Galavisión, the country's leading Spanish-language cable network, as well as Univision tlnovelas, a new 24-hour cable network dedicated to novelas, and a suite of six cable offerings - De Película, De Película Clásico, Bandamax, Ritmoson, Telehit and Clásico TV; Univision Studios, which produces and co-produces reality shows, dramatic series and other programming formats for the Company's platforms; Univision Television Group, which owns and/or operates 62 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Hispanic radio group which owns and/or operates 69 radio stations in 16 of the top25 U.S. Hispanic markets and 5 stations in Puerto Rico; Univision Interactive Media, a network of national and local online and mobile sites including Univision.com, which continues to be the #1 most-visited Spanish-language website among U.S. online Hispanics, Univision Móvil, a longstanding industry-leader with unique, relevant mobile products and services, and Univision Partner Group, a specialized advertising and publisher network. Headquartered in New York City, UCI has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.