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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JUNE 5, 2007
UNIVISION COMMUNICATIONS INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
001-12223 95-4398884
(Commission File Number) (IRS Employer Identification No.)
605 THIRD AVENUE, 12TH FLOOR
NEW YORK, NY 10158
(Address of principal executive offices)
(212) 455-5200
(Registrant's telephone number, including area code)
NO CHANGE
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written Communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
SECTION 5 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS.
Effective as of June 5, 2007, Henry G. Cisneros, Chairman and Chief
Executive Officer of CityView, Gloria Estefan, Vice President of Estefan
Entertainment, Inc., and Joseph Uva, Chief Executive Officer Univision
Communications Inc. (the "Company"), were appointed to serve as members of the
Board of Directors of the Company.
Each of Mr. Cisneros and Ms. Estefan will receive annual cash compensation
for their service as directors of the Company of $100,000, payable in quarterly
installments. Additionally, each of Mr. Cisneros and Ms. Estefan will receive an
equity incentive award in a form and amount to be determined by the Board of
Directors of the Company. The award will vest during their period of service as
director to the extent of 20% of the aggregate equity award on April 2, 2008 and
20% on April 2nd of each of the next four years. The award will be subject to
additional vesting and other terms and conditions as may be reasonably
determined by the Company's Board of Directors. Mr. Uva will not receive any
compensation for his service as director of the Company.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 10, 2007 UNIVISION COMMUNICATIONS INC.
By: /s/ C. Douglas Kranwinkle
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Name: C. Douglas Kranwinkle
Title: Executive Vice President and General
Counsel
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