MEXICO CITY and NEW YORK, April 10 /PRNewswire-FirstCall/ -- Grupo
Televisa, S.A. (NYSE: TV; BMV: TLEVISA CPO), the largest media company
in the Spanish-speaking world, and Clear Channel Entertainment, the
world's leading producer and marketer of live entertainment, today
announced an agreement that extends their Mexico-focused live
entertainment joint enterprise to include the U.S. Hispanic market.
Established by Televisa and Clear Channel Entertainment in 2001,
the joint enterprise, called En Vivo in Mexico but not yet named in
the U.S., will pursue worldwide tours of Spanish-speaking artists and
other live events primarily targeting Spanish-speaking audiences.
Under the agreement, Televisa will acquire 50% of
Cardenas-Fernandez & Associates, Inc. (CFA), the leading Hispanic
event producer in the U.S. and Caribbean, from founders Henry Cardenas
and Ivan Fernandez. Clear Channel Entertainment already owns 50% of
CFA. In 2000, CFA produced and promoted more than 200 events including
soccer games, concerts, festivals, theatrical productions, corporate
sponsorship programs and rodeos. Henry Cardenas and Ivan Fernandez
will continue to work as senior executives in the company.
"The U.S. Hispanic audience is underserved in terms of the number
of live entertainment events presented each year," said Brian Becker,
Chairman and CEO of Clear Channel Entertainment. "Under this pact with
Televisa, we have brought together all the components necessary to
replicate our success in Mexico, including the resources of our U.S.
venue network, the promotional muscle provided by Televisa and the
radio and outdoor divisions of Clear Channel Worldwide."
Since its formation in early 2001, En Vivo has successfully
presented numerous events in Mexico including *NSYNC, the Magic of
David Copperfield, Elton John, Celia Cruz, Los Temerarios and Kabah.
Earlier this year, En Vivo staged Luis Miguel's 2002 tour which
sold-out 17 shows including Guadalajara, Monterrey and Mexico City
with an attendance of 182,656 people. In October 2002, En Vivo will
present the Cirque du Soleil in Mexico City. It will be the first time
that the troupe has ever performed in Latin America.
"Today's announcement is a natural extension of the successful
relationship we have enjoyed with Clear Channel Entertainment in
Mexico and immediately positions us as a leader in providing live
entertainment to the U.S. Hispanic market," said Jaime Davila,
Executive Vice President of Televisa. "This new venture will benefit
from the multiple distribution channels owned by Televisa in Mexico
and will create added value to our library. Moreover, it is an
important step for Televisa as we increase our presence in the U.S."
Javier Prado, CEO of En Vivo, commented, "En Vivo has offered a
better alternative in the Mexican live entertainment industry in a
very short period. Extending the venture to capture a significant
share of the U.S. Hispanic market makes strategic sense, and
ultimately will result in bringing that growing audience the highest
quality events possible."
From March to September 2002, CFA will present "La Maquina Musical
Miller Lite" a state-of-the-art mobile concert venue featuring the
best Latin music. The tour will perform 20 shows in 12 of the top U.S.
Hispanic markets including Miami, New York, Houston, Chicago and Los
Angeles. Nearly a quarter million fans are expected to participate in
this unique musical experience, which represents one of Miller Brewing
Company's largest investments in Latin musical entertainment. Top
Latin artists such as Lupillo Rivera and Rieleros del Norte will
perform as the mobile venue winds its ways across the U.S.
About Grupo Televisa S.A.
Grupo Televisa, S.A. is the largest media company in the
Spanish-speaking world, and a major player in the international
entertainment business. It has interests in television production and
broadcasting, programming for pay television, international
distribution of television programming, direct-to-home satellite
services, publishing and publishing distribution, cable television,
radio production and broadcasting, professional sports and show
business promotions, paging services, feature film production and
distribution, dubbing, and the operation of a horizontal Internet
portal. Grupo Televisa also has an unconsolidated equity stake in
Univision, the leading Spanish-language television company in the
United States.
About Clear Channel Entertainment
Clear Channel Entertainment, a leading producer and marketer of
live entertainment events, is a subsidiary of Clear Channel Worldwide
(NYSE: CCU) , a global leader in the out-of-home advertising
industry. Clear Channel Entertainment currently owns, operates and/or
exclusively books approximately 135 live entertainment venues,
including more than 100 in North America and 30 in Europe. In 2001,
more than 66 million people attended approximately 26,000 events
promoted and/or produced by the company, including: Live music events;
Broadway, West End and touring theatrical shows; family entertainment
shows; and specialized sports and motor sports events. The company,
which operates throughout North America, Europe, South America and
Australia, also owns independently operated athlete representation
businesses, which provide management, marketing and financial
consulting services to many of the world's top professional athletes.
More information may be found by visiting www.clearchannel.com.
This press release contains forward-looking statements regarding
the Company's results and prospects. Actual results could differ
materially from these statements. The forward-looking statements in
this press release should be read in conjunction with the factors
described in "Item 1. Description of Business - Cautionary Statement"
in the Company's Annual Report on Form 20-F, which, among others,
could cause actual results to differ materially for those contained in
forward-looking statements made in this press release and in oral
statements made by authorized officers of the Company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Source: Grupo Televisa, S.A.
Contact: Investor Contacts - Mexico: Alberto Islas of Grupo
Televisa,
S.A., 525-261-2000; Investor Contacts - U.S. & Europe: Adam Miller or
Robert
Malin of Abernathy MacGregor Group, +1-212-371-5999, for Grupo
Televisa, S.A;
or Bennett Kleinberg of Clear Channel Entertainment, +1-917-421-5366
Website:
http://www.clearchannel.com/
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