HBC days numbered? Yep, But still buying

Hispanic Broadcasting Corporation (HBC)-(NYSE:HSP) last weeks speculation 3/12/03 RBR #50, report #2, was expected to rebrand itself and use the Univision (NUVN) name once the merger closes or was to close at the end of last week, which it hasn’t, yet. HBC President/CEO Mac Tichenor, Jr may have you doing a double head shake by coming out last night, 3/17/03 around 7:30pm that it acquired the assets of KTND-FM Georgetown, TX which serves the Austin, TX market to the price of $16 Million from Simmons Media Group.

According to HBC release the KTND purchase is its first entry into the Austin market. This makes the second group to get into Austin as Emmis Communications (O:EMMS), 3/4/03 RBR #44 entered Texas capital radio market paying $105M to purchase a 50.1% interest in a six-station cluster in Austin, TX, with Sinclair Telecable remaining as minority partner and the LBJ Companies exiting as the other partner.

As for the closing, we also reported 3/12/03 #50, report #1, in our RBR Observation things can move fast at the FCC when a public company is trying to make a deadline. Univision's attorneys should be able to have the requested information to the FCC post haste and they'll also be putting pressure on the Commission staff to move fast as well. If any wording change is needed, that can likely be dealt with quickly as well. Friday isn't a firm deadline, but it is a target - - and both HBC and Univision are now working to come as close to that target as possible.

Back to the potential HBC name change: RBR reported our sources saying there will indeed be a new name. We hope, however, that Billboard magazine reporting was wrong that it will be "Univision Radio Group." URG is a really ugly acronym.

Editors Note: HBC doesn’t let the grass grow under its feet and that is why we in the radio business call McHenry T. Tichenor, Jr. the BIG Mac because be attacks.