Grupo Televisa and Univision Communications announced late last week that they have amended the current program license agreement that will keep Televisa's popular Spanish-language programming flowing to Univision, the dominant Hispanic network in the U.S., until 2017.
The settlement of a lawsuit filed four years ago by Televisa will cost Univision dearly. According to published reports, a lawyer for Televisa says the Mexican broadcaster will receive $65 million of advertising time on Univision stations every year, and receive $25 million in cash from Univision.
Televisa's four-year-old lawsuit claimed its contact had been breached by Univision, and said it was severely underpaid for royalties. Univision previously had been paying Televisa $130 million for programming.