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EXHIBIT 4.16  

 
 

TRUST AGREEMENT    
    

        This TRUST AGREEMENT, dated as of April 17, 2003 (this "Trust Agreement"), between (i) Univision Communications Inc., a Delaware corporation
(the "Sponsor"), and (ii) Wilmington Trust Company, a Delaware banking corporation, as trustee (the "Trustee;" and, together with any other trustees of the Trust, the "Trustees"). The Sponsor
and the Trustees hereby agree as follows: 

        1.     The
trust created hereby (the "Trust") shall be known as "Univision Capital Trust I" in which name the Trustees, or the Sponsor to the extent provided herein, may engage
in the transactions contemplated hereby, make and execute contracts, and sue and be sued. The Trust is hereby established by the Sponsor and the Trustees for the purpose of (i) issuing
preferred securities ("Preferred Securities") representing undivided beneficial interests in the assets of the Trust in exchange for cash and investing the proceeds thereof in debentures of the
Sponsor, (ii) issuing and selling common securities ("Common Securities" and, together with the Preferred Securities, "Trust Securities") representing undivided beneficial interests in the
assets of the Trust to the Sponsor in exchange for cash and investing the proceeds thereof in additional debentures of the Sponsor and (iii) engaging in such other activities as are necessary,
convenient or incidental thereto. 

        2.     The
Sponsor hereby assigns, transfers conveys and sets over to the Trustees the sum of $10.00. The Trustees hereby acknowledge receipt of such amount in trust from the
Sponsor, which amount shall constitute the initial trust estate. The Trustees hereby declare that they will hold the trust estate in trust for the Sponsor. It is the intention of the parties hereto
that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801,  et seq. (the "Trust
Act"), and that this document constitutes the governing instrument of the Trust. The Trustees are hereby authorized and empowered to
execute and file a certificate of trust in the form of exhibit A attached hereto with the Delaware Secretary of State in accordance with the provisions of the Trust Act. 

        3.     The
Sponsor and the Trustees will enter into an amended and restated Trust Agreement, satisfactory to each such party and substantially in the form included as an exhibit
to the 1933 Act Registration Statement (as defined below), to provide for the contemplated operation of the Trust created hereby and the issuance of the Trust Securities. Prior to the execution and
delivery of such amended and restated Trust Agreement, the Trustees shall not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law
or as the Sponsor directs in order to
obtain prior to such execution and delivery of any licenses, consents or approvals required by applicable law or otherwise. 

        4.     The
Sponsor and the Trustees hereby authorize and empower the Sponsor, as agent of the Trust, (i) to file with the Securities and Exchange Commission (the
"Commission") and execute, in each case on behalf of the Trust, the Registration Statement on Form S-3 (the "1933 Act Registration Statement"), including any
pre-effective or post-effective amendments to the 1933 Act Registration Statement, relating to the registration under the Securities Act of 1933, as amended, of the preferred
securities of the Trust; (ii) to file with the New York Stock Exchange or any other national stock exchange or The Nasdaq National Market (each, an "Exchange") and execute on behalf of the
Trust one or more listing applications and all other applications, statements, certificates, agreements and other instruments as shall be necessary or desirable to cause the Preferred Securities to be
listed on any of the Exchanges; (iii) to file and execute on behalf of the Trust such applications, reports, surety bonds, irrevocable consents, appointments of attorney for service of process
and other papers and documents as shall be necessary or desirable to register the Preferred Securities under the securities or blue sky laws of such jurisdictions as the Sponsor, on behalf of the
Trust, may deem necessary or desirable, (iv) to execute and deliver letters or documents to, or instruments for filing with, a depository relating to the Preferred Securities of the Trust, and
(v) to execute on behalf of the Trust that certain underwriting 

agreement
relating to the Preferred Securities, among the Trust, the Sponsor and the several underwriters named therein, substantially in the form included as an exhibit to the 1933 Act Registration
Statement. 

        5.     The
number of Trustees initially shall be one (1) and thereafter the number of Trustees shall be such number as shall be fixed from time to time by a written
instrument signed by the Sponsor which may increase or decrease the number of Trustees; provided, however, that to the extent required by the Trust Act, one Trustee shall either be a natural person
who is a resident of the State of Delaware or, if not a natural person, an entity which has its principal place of business in the State of Delaware and otherwise meets the requirements of applicable
Delaware law. Subject to the foregoing, the Sponsor is entitled to appoint or remove without cause any Trustee at any time. The Trustees may resign upon thirty (30) days' prior notice to the
Sponsor. 

        6.     (a)
Neither a Trustee nor any of its officers, directors, agents and servants (collectively, a "Fiduciary Indemnified Person") shall be liable, responsible or accountable
in damages or otherwise to the Trust, the Sponsor, the Trustees or any holder of the Trust Securities (the Trust, the Sponsor and any holder of the Trust Securities being a "Covered Person") for any
loss, damage or claim incurred by reason of any act or omission performed or omitted by any such Fiduciary Indemnified Person in good faith on behalf of the Trust and in a manner such Fiduciary
Indemnified Person reasonably believes to be within the scope of authority conferred on such Fiduciary Indemnified Person by this Trust Agreement or by law, except that such Fiduciary Indemnified
Person shall be liable for any such loss, damage or claim incurred by reason of the Fiduciary Indemnified Person's negligence or willful misconduct with respect to such acts or omissions. 

        (b)   Each
Fiduciary Indemnified Person shall be fully protected in relying in good faith upon the records of the Trust and upon such information, opinions, reports or
statements presented to the Trust by any person as to matters the Fiduciary Indemnified Person reasonably believes are within such other person's professional or expert competence and who has been
selected with reasonable care by or on behalf of the Trust, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits, losses, or any other
facts pertinent to the existence and amount of assets from which distributions to holders of Trust Securities might properly be paid. 

        (c)   The
Sponsor agrees, to the fullest extent permitted by applicable law, (i) to indemnify and hold harmless each Fiduciary Indemnified Person from and against any
loss, damage, liability, tax, penalty, expense or claim of any kind or nature whatsoever incurred by or asserted against such Fiduciary Indemnified Persons by reason of the creation, operation or
termination of the Trust or the transactions contemplated by this Trust Agreement, except that no Fiduciary Indemnified Person shall be entitled to be indemnified in respect of any loss, damage or
claim incurred by such Fiduciary Indemnified Person by reason of negligence or willful misconduct with respect to such acts or omissions, and (ii) to advance expenses (including legal fees)
incurred by a Fiduciary Indemnified Person in defending any claim, demand, action, suit or proceeding shall, from time to time, prior to the final disposition of such claim, demand, action, suit or
proceeding, upon receipt by the Trust of an undertaking by or on behalf of such Fiduciary Indemnified Person to repay such amount if it shall be determined that such Fiduciary Indemnified Person is
not entitled to be indemnified as authorized in the preceding subsection. 

        (d)   The
provisions of this Section shall survive the termination of this Trust Agreement or the earlier resignation or removal of the Fiduciary Indemnified Persons. 

        7.     This
Trust Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware (without regard to conflict of laws principles). 

        8.     This
Trust Agreement may be executed in one or more counterparts. 

        9.     The
Trust may dissolve without issuing any Trust Securities at the election of the Sponsor. The Trust shall dissolve and this Trust Agreement shall terminate unless the
Trust issues Securities within one year after the date hereof. Upon dissolution, the Trustee shall file a certificate of cancellation in accordance with the Trust Act and apply the funds
deposited with it pursuant to Section 2 above to reimburse the Trustee for any filing fees or other expenses in connection therewith. Any remaining funds shall, after payment of any other
expenses of the Trust, be returned to the Sponsor. 

[SIGNATURE
PAGE FOLLOWS] 

        IN
WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed as of the day and year first above written. 

	

 	
 	

UNIVISION COMMUNICATIONS INC.,

a Delaware corporation, as Sponsor
	

 	
 	

By:	
 	

 	

/s/  C. DOUGLAS KRANWINKLE      	

 
	 	 	 	 	 	
	 
	 	 	Name:	 	C. Douglas Kranwinkle
	 	 	Title:	 	Executive Vice President and General Counsel
	

 	
 	

WILMINGTON TRUST COMPANY,

as Delaware Trustee
	

 	
 	

By:	
 	

 	

/s/  DONALD G. MACKELCAN      	

 
	 	 	 	 	 	
	 
	 	 	Name:	 	 	Donald G. MacKelcan	 
	 	 	 	 	 	
	 
	 	 	Title:	 	 	Vice President	 
	 	 	 	 	 	
	 

 
 

EXHIBIT A    
    

 
 

CERTIFICATE OF TRUST
  OF
  UNIVISION CAPITAL TRUST I    
    

        THIS Certificate of Trust of Univision Capital Trust I (the "Trust") is being duly executed and filed by the undersigned, as trustee, to form a statutory
trust under the Delaware Statutory Trust Act (12 Del. C. §3801 et seq.) (the "Act"). 

        1.    Name.    The name of the statutory trust formed hereby is Univision Capital Trust I. 

        2.    Delaware Trustee.    The name and business address of the trustee of the Trust in the State of Delaware is
Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention Corporate Trust Administration. 

        3.    Effective Date.    This Certificate of Trust shall be effective upon filing. 

        IN
WITNESS WHEREOF, the undersigned has executed this Certificate in accordance with Section 3811(a) of the Act. 

	

 	
 	

WILMINGTON TRUST COMPANY
	

 	
 	

By:	

 
	 	 	 	

	 	 	Name:	 
	 	 	 	

	 	 	Title:	 
	 	 	 	

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EXHIBIT A

CERTIFICATE OF TRUST OF UNIVISION CAPITAL TRUST IQuickLinks
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EXHIBIT 4.17  

 
 

CERTIFICATE OF TRUST
  OF
  UNIVISION CAPITAL TRUST II    
    

        THIS Certificate of Trust of Univision Capital Trust II (the "Trust") is being duly executed and filed by the undersigned, as trustee, to form a statutory
trust under the Delaware Statutory Trust Act (12 Del. C. §3801 et seq.) (the "Act"). 

        1.    Name.    The name of the statutory trust formed hereby is Univision Capital Trust II. 

        2.    Delaware Trustee.    The name and business address of the trustee of the Trust in the State of Delaware is
Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention Corporate Trust Administration. 

        3.    Effective Date.    This Certificate of Trust shall be effective upon filing. 

        IN
WITNESS WHEREOF, the undersigned has executed this Certificate in accordance with Section 3811(a) of the Act. 

	

 	
 	

WILMINGTON TRUST COMPANY
	

 	
 	

By:	
 	

 	

/s/  DONALD G. MACKELCAN      	

 
	 	 	 	 	 	
	 
	 	 	Name:	 	 	Donald G. MacKelcan	 
	 	 	 	 	 	
	 
	 	 	Title:	 	 	Vice President	 
	 	 	 	 	 	
	 

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CERTIFICATE OF TRUST OF UNIVISION CAPITAL TRUST II

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