Univision buyout has happy ending for Citadel

Wed Nov 1, 2006



The national debate over immigration, legal or otherwise, seems to be heating up again. And although the de facto reconquista of the southwest by Spanish-speaking immigrants may seemingly have little to do with the world of hedge funds, the rapid hispanization of America has translated into investment themes that are making their way into investment portfolios. Nowhere is this more evident than in Ken Griffin's portfolio over at Citadel Investment Group.

Citadel is one of the largest shareholders in the Spanish-language television network Univision, which produces Emmy-award winning shows aired on company-owned stations from San Francisco to New York. Filings with the U.S. Securities and Exchange Commission reveal that, as of the third quarter, Citadel owned a $250 million stake in Univision.

One of Citadel's largest portfolio bets, Univision shows that the Chicago hedge fund giant sees Spanish TV as more than zany variety shows featuring grown men dressed...

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