Bingo! Mexico's Televisa Kicks Off Lottery Games and Liberty Media and CBS Corporation Agree to Exchange CBS Shares

Broadcasting industry news provided by Financial News USA (OTC: FNWU). Mexican broadcaster Televisa (NYSE:TV) kicked off a new lottery business on Monday where anyone with as little as 50 centavos ($0.05) can participate in one of four daily games for cash prizes. Televisa is trying to lure its millions of viewers into buying lotto tickets that can win them hefty prizes, such as an expected $2.5 million bonanza lined up for Tuesday, according to its "Multijuegos" Web site, www.multijuegos.com.mx/. Univision Communications Inc. (NYSE:UVN), the largest U.S. Spanish-language broadcaster, said on Friday its quarterly net profit more than tripled on strong growth in the company's advertising-related business. Fourth-quarter net income rose to $99.7 million, or 29 cents per share, versus $27.4 million, or 8 cents per share a year ago. Univision is in the midst of a $12.3 billion private equity buyout that is expected to be completed in the current quarter.

Liberty Media Corporation (Nasdaq: LINTA) and CBS Corporation (NYSE: CBS) recently announced that they have entered into a definitive agreement whereby Liberty will exchange its 7,591,249 CBS common shares for a newly created corporate subsidiary of CBS which holds CBS' Green Bay owned television station, valued at $64 million, and approximately $170 million cash in a tax-free split-off. Telecom services provider US Starcom (OTC:USTA) said it signed a letter of intent to spin off its subsidiary, US Starcom Technologies, which will now be called Relativity Inc. The spun off entity will focus on providing software services for banking and private equity markets. US Starcom will own 1.25 million shares of the new entity, which plans to go public over the next 6-12 months, the company said in a statement.

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