As expected, the FCC has approved the acquisition of Univision Communications by investor group Broadcasting Media Partners (BMP). The sale was set at approximately $12.3 billion or $36.25 per share. Once the acquisition is finalized, which is expected this month, Joe Uva will step in as the company's new CEO.

Univision's holdings include Univision Music Group, which includes Univision Records, Fonovisa and Disa, and commands the highest Latin music market share in the country; the Univision Network, the most watched Spanish language network in the United States; the Telefutura network; cable network Galavision; univision.com; and Univision Radio, which owns and/or operates 74 radio stations in the United States and Puerto Rico.

The Univision sale was set at a price of $36.25 per share for approximately $12.3 billion.

BMP includes Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners, and Saban Capital Group.