Univision settles suit

The settlement with Mexico's Grupo Televisa came after three weeks of trial. Televisa accused L.A.-based Univision of breach of contract and claimed that it was owed more than $122 million in royalty payments. Televisa also had been trying to terminate its 25-year commitment to supply Univision with telenovelas. From the LAT:

As part of the settlement, Univision made several concessions. It agreed to pay Televisa $25 million in disputed royalties, and increase the license fees paid to Televisa under its current agreement, which expires in 2017. Univision will also provide Televisa with $65 million annually in free advertising on Univision's television networks. In exchange, Televisa affirmed its commitment to continue to provide telenovelas to Univision through 2017 -- removing clouds of uncertainty that had been weighing down the value of Univision's bonds with investors. Televisa also extended Univision's right to broadcast matches of Televisa's Mexican soccer teams for another year.