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Exhibit 10.7    
  

SECOND
AMENDED AND RESTATED PROGRAM LICENSE AGREEMENT 

        This
SECOND AMENDED AND RESTATED PROGRAM LICENSE AGREEMENT is entered into as of December 19, 2001 (the "Restatement Date") by and between Televisa Internacional, S.A. de C.V., a
Mexican corporation, (hereinafter "Licensor") and Univision Communications Inc., a Delaware corporation ("Licensee" or "UCI"), and amends and restates that certain AMENDED AND RESTATED PROGRAM
LICENSE AGREEMENT (the "Amended and Restated Program License Agreement") made as of the 1st day of October, 1996 by and between Licensor and The Univision Network Limited Partnership, a Delaware
limited partnership ("UNLP"). 

        WHEREAS,
Licensor has or will have rights in the United States of America, including all territories and possessions thereof other than Puerto Rico (the "Territory"), to license certain
television programs in the Spanish language or with Spanish subtitles produced by and to be produced by Televisa, S.A. de C.V. and other entities controlled by Grupo Televisa, S.A. ("GT") (GT and all
of the companies it controls, including Televisa, S.A., and Licensor being hereinafter referred to collectively as "Televisa"). 

        WHEREAS,
Licensee operates the Univision Network, the Galavision Network, the Stations, the Telefutura Network and the Telefutura Stations. 

        WHEREAS
Licensee desires to acquire the right to broadcast in the Territory over the Univision Network, the Galavision Network, and the Telefutura Network, programs produced, to be
produced or otherwise marketed by Televisa and Licensor is willing to grant such a license upon the terms, provisions and conditions herein set forth. 

        WHEREAS,
Venevision International Corporation ("Venevision") is simultaneously herewith entering into a Second Amended and Restated Program License Agreement, dated as of the date hereof
(the "Venevision Agreement"), with the Licensee to license certain television programming for broadcast in the Territory. 

        NOW,
THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: 

        1.    License of Programming.    

        1.1  

        (a)  Pursuant
to the terms and conditions hereof, Licensor hereby grants Licensee and its subsidiaries the exclusive license to broadcast in the Territory all Programs
throughout the Term on the Univision Network, the Galavision Network, and the Telefutura Network. 

        (b)  Licensee
agrees that sales of advertising time on the Networks, the Stations, the Telefutura Network and the Telefutura Stations will be conducted and allocated on an
arms-length basis vis-à-vis one another and vis-à-vis other networks, stations and other media owned by
Licensee and its Affiliates. 

        (c)  Licensee
shall not broadcast any First-Run Program (other than news) on either of the Networks or the Telefutura Network between the hours of
1:00 a.m. and 9:00 a.m. unless Licensee reasonably believes that it is commercially reasonable to broadcast such program during such period. 

        1.2  For
purposes of this Agreement only: 

        (a)  "Programs"
means 

          (i)  programs
initially produced in the Spanish language or programs with Spanish subtitles, produced by third parties or co-produced by Televisa with third
parties to which Televisa owns sole television broadcast rights in the Territory (and which is not a Co-Produced Program (as defined below)); 

 

        (ii)  all
programs initially produced in the Spanish language or programs with Spanish subtitles, previously produced directly or indirectly by or for Televisa and to be
produced directly or indirectly by or for Televisa for broadcast at any time to which Televisa owns television broadcast rights in the Territory and which are available for broadcast including,
without limitation, in the following categories: novelas, musicals, variety shows, situation comedies, game shows, talk shows, children's shows, news shows, cultural and educational programs, and
sports programs; and 

        (iii)  movies
produced by Televisa and for which Televisa owns the television broadcast rights in the Territory, from and after the time that such movies become available for
free television broadcast in the Territory. 

Each
Program shall be available for license to Licensee in the Territory pursuant to the terms of this Agreement upon the first to occur of (x) the date when such Program is initially broadcast
by Televisa or (y) the date when such Program is first made available for broadcast by any third party. 

        Except
as provided in the following paragraph, if Licensor or Televisa shall produce directly or indirectly any Spanish Language or Spanish subtitled programming for broadcast in the
Territory it shall be deemed a Program subject to the terms and conditions of this Agreement. 

        (b)  The
term "Programs" does not include Special Programs (other than Televisa Produced U.S. Special Programs) or Co-Produced Programs (each as defined below). 

        (c)  "Co-Produced
Programs" means programs originally produced for broadcast in the Spanish language or with Spanish subtitles, previously produced, or to be
produced, by Televisa for broadcast pursuant to co-production agreements with unaffiliated third parties or produced by unaffiliated third parties (in each case, other than any
co-production agreements directly or indirectly with any broadcaster in and to the Territory): 

          (i)  under
which Televisa does not own the right to permit the broadcast of such program in the Territory and/or 

        (ii)  under
which Televisa is required to share with such third parties the revenue derived from the broadcast of such program in the Territory. 

        No
program that would otherwise be a Program under Section 1.2(a)(ii) shall become a Co-Produced Program solely because Televisa or Licensor licenses or sells
distribution rights in the Territory prior to
or during production of such program and neither Televisa nor Licensor shall enter into any agreement to the contrary. 

        In
order for a program to be a Co-Produced Program, some material property right underlying such program must be provided by such unaffiliated third party described above and
such unaffiliated third party must participate in the development and production of the Program in exchange for such third party's distribution rights in the Territory or participation in distribution
revenues from the Territory. 

        If
Televisa intends to enter into an agreement or arrangement with respect to a program that it believes will be a Co-Produced Program under this Agreement, Televisa will
provide UCI with written notification of such intention at least 10 business days prior to entering into any such agreement or arrangement, along with the basis for Televisa's belief that such program
should be characterized as a Co-Produced Program solely for the purpose of permitting UCI to monitor compliance by Televisa with the provisions contained herein relating to
Co-Produced Programs, it being agreed that UCI and its Affiliates shall keep confidential such notice and the information contained therein, shall not use such notice or information for
its own account and shall not contact or engage in discussions with any Person other than Televisa with respect to such agreement or arrangement. 

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        Subject
to the following paragraph, nothing contained in this Agreement shall prevent Licensor or Televisa from licensing broadcast rights (in exchange for cash or other
in-kind services or property other than Programs) for territories other than the Territory to programs initially produced in the Spanish language or programs with Spanish language
subtitles that are developed and produced in the Territory by unaffiliated third party producers located in the Territory, including broadcasters, provided that neither Licensor nor Televisa has
participated in any way in the development or production of any such program. 

        In
the case of novelas, if Licensor or any of its Affiliates, (a) enters into an agreement or arrangement with respect to the co-production of a novela or
(b) sells or transfers a novela script or format to any third party, and (x) Licensor or any Affiliate owns or obtains Mexican broadcast rights to such novela during the Term and
(y) broadcast rights in the Territory exist during the Term, then Licensor must cause such novela to be a Program hereunder. 

        Televisa
agrees that it will use good faith efforts not to structure arrangements or agreements with respect to programs in a manner intended to cause such programs not to be considered
Programs hereunder. 

        (d)  "Affiliate"
of a person means any person that directly or indirectly controls, is controlled by, or is under common control with the person in question. For the purposes
of this definition, "control", when
used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise. Affiliate shall not mean any television station that has entered into an affiliation agreement with the Networks but is otherwise not an Affiliate of UCI, any Person that controls GT. or
any person under common control with, but not directly or indirectly controlled by, GT. 

        (e)  "broadcast"
or "Network broadcast" means all electronic forms or other means now known or hereafter developed of transmission and re-transmission, including
but not limited to over-the-air television, cable television, low power television, multi-point distribution systems, wire, fiber optics, microwave, and satellite, except for
purposes of delivery of the Programs pursuant to Section 3. 

        (f)    "Galavision
Network" means the Galavision Spanish language television network of affiliated cable television systems and other affiliated broadcast outlets broadcasting
the Galavision Network in the Territory. 

        (g)  "Networks"
means the Univision Network and the Galavision Network. 

        (h)  "Stations"
means those television broadcast stations, cable television systems and other broadcast outlets (such cable television systems and other broadcast outlets
being "Other Outlets") affiliated with the Networks that are now or hereafter directly or indirectly majority owned and operated by UCI or a direct or indirect subsidiary of UCI or with respect to
which UCI or a direct or indirect subsidiary of UCI has the right to designate a majority of the board or similar governing body, and in each case, which broadcast in the Spanish language format. 

        (i)    "Telefutura
Network" means the Telefutura television network of affiliated television broadcast stations, cable systems and other affiliated broadcast outlets
broadcasting the Telefutura Network in the Territory, to be launched by Licensee. 

        (j)    "Telefutura
Stations" means those television broadcast stations, cable television systems and other broadcast outlets (such cable television systems and other broadcast
outlets being "Other Telefutura Outlets") affiliated with the Telefutura Network that are now or hereafter directly or indirectly majority owned and operated by UCI or a direct or indirect 

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subsidiary of UCI or with respect to which UCI or a direct or indirect subsidiary of UCI has the right to designate a majority of the board or similar governing body. 

        (k)  "Univision
Network" means the Univision Spanish language television network of affiliated television broadcast stations, cable systems and other affiliated broadcast
outlets broadcasting the Univision Network in the Territory. 

        1.3  Licensor
and its Affiliates shall have the right and ability to, and to permit others to: 

        (a)  transmit
or retransmit via satellite which receives its signal from any earth station or other facility in Mexico (or any substitute or back haul facility outside of
Mexico but serving Mexico, so long as such signal is encrypted) to any television station in or cable system serving Mexico, any Programs which may also be covered by this Agreement, notwithstanding
the fact that such transmissions or retransmissions may be incidentally viewed in the Territory; 

        (b)  transmit
or retransmit from any television station located in Mexico any Programs which may also be covered by this Agreement, notwithstanding the fact that such
transmissions or re-transmissions may be incidentally viewed in the Territory; 

        (c)  transmit
via satellite to any direct-to-home subscribers located outside the Territory, any Programs which may also be covered by this Agreement,
notwithstanding the fact that such transmissions may be intercepted by unauthorized recipients in the Territory. 

        (d)  transmit
via the Internet (x) Licensor's national network evening news broadcast and up to a 15 minute sports program, both of which in the aggregate last no more
than one hour per day, (y) religious service telecasts, and (z) charitable and non-commercial specials (e.g., telethons and presidential speeches). 

        Notwithstanding
the foregoing exceptions, neither Licensor nor its Affiliates shall consent to, and each shall use its commercially reasonable efforts to prohibit, 

          (i)  the
transmission or retransmission of such Programs by 

        (x)  any
television station in the Territory, 

        (y)  any
cable system in the Territory that is located beyond 35 miles from the community of license of any transmitting television station in Mexico transmitting the
Programs (any such cable transmission or re-transmission within such 35 mile limit being hereby expressly permitted) or 

        (z)  any
other means of broadcasting in or into the Territory, and 

        (ii)  the
sale of any direct-to-home or similar services, or any mechanical device, authorization code or other access devices, to persons located in
the Territory for the purpose of receiving Programs in contravention of this Section 1.3. 

        To
the extent that Licensor has the right to transmit or retransmit under clause (b) and (d) above, Licensor shall have the right to market and promote and otherwise
generate revenues (including, but not limited to, the sale of advertising time) attributable to the ability of viewers in the Territory to receive Programs contained in such transmissions. Licensor
and Licensee acknowledge and agree that this Section 1.3 is intended solely to insure that Licensor will not be in violation of this Agreement merely because transmissions or retransmissions
from stations located in Mexico or transmissions or retransmissions from satellite signals intended for television stations, cable systems or direct-to-home subscribers outside
the Territory, and over the Internet as provided above, may be incidentally viewed by unauthorized recipients in the Territory, and is not intended to give Licensor any right to broadcast, or license
others to broadcast, Programs intended for viewing or which may be viewed in the Territory other than in accordance with the other provisions of this Agreement. 

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        2.    Notification, Acceptance and Licensing of Programming.    Not less than once in each calendar quarter during the
term of this Agreement, Licensor will deliver a written notice (an "Availability Notice") to Licensee specifying all Programs which (a) have become available for license by Licensee since the
delivery of the preceding Availability Notice or (b) may no longer be available to Licensee for license hereunder. Upon the request of Licensee, Licensor shall deliver to Licensee whatever
materials are reasonably available with respect to any Program available for license, at Licensee's expense to the extent Licensee requests more than a videotape pilot or representative episode with
respect to a new Program. If Licensee desires to license any Programs, it shall notify Licensor of its acceptance in writing (an "Acceptance") at any time. Such Acceptance shall specify the name of
the Accepted Program and such other information as may reasonably be requested by Licensor. An Acceptance shall constitute the acceptance of the license by Licensee of the Program(s) and upon receipt
by Licensor of such Acceptance, the Program(s) covered by each such Acceptance shall without further action be automatically licensed to Licensee on the terms and conditions of this Agreement and be
an "Accepted Program". 

        3.    Delivery, Expenses And Use Of Programs.    

        3.1  Following
Licensee's sending an Acceptance Notice with respect to a Program pursuant to Section 2 of this Agreement, Licensor shall deliver to Licensee, at
Licensee's expense, a visual and aural reproduction of each such Program either (at Licensee's election and subject to Licensor's reasonable ability to comply with such election) via satellite (at
Licensee's risk of loss if delivery via satellite is
requested less than 48 hours in advance of scheduled broadcast) or on such form of video tape, disc or other device as reasonably requested by Licensee, formatted and suitable for broadcast in
the Territory as reasonably requested by Licensee in accordance with its broadcast standards and practices, as soon as available. Programs will be deemed delivered by Licensor when transmitted to the
satellite, when actually received if shipped by freight, or when made available through permission to re-transmit the signal of an affiliate of Licensee. 

        3.2  Licensee
agrees that as soon as practicable following receipt of delivery of any Program via satellite or on video tape, disc or other device, it will examine such
delivery to determine whether it is physically suitable for broadcast and notify Licensor immediately upon detecting any defect rendering such delivery unsuitable for broadcast. In such cases,
Licensor shall promptly re-deliver such Program at its own expense either (at Licensee's election) via satellite or on a physically suitable videotape, disc or other device designated by
Licensee. 

        3.3  Licensee
agrees to return to Licensor each video tape, disc or other device of a Program delivered by Licensor on the reels and in the containers in which it was
shipped, in the same condition as received, reasonable wear and tear through proper use excepted, as soon as practicable after Licensee and its subsidiaries has made all broadcasts of such Program
that it plans to make within the next 12 months. Licensee shall pay all costs of returning the videotapes, discs or other devices to Licensor. Should Licensor request that the video tape, disc
or other device be sent to a location other than Licensor's warehouse, Licensor will bear responsibility for shipping costs above those which would have been applicable for shipping to Licensor's
warehouse. Licensor agrees to re-deliver to Licensee any Program previously returned to Licensor that Licensee or any subsidiary of Licensee desires to re-broadcast during the
Term. 

        3.4  The
videotapes, discs or other devices shall at all times remain the property of Licensor subject to Licensee's rights as herein provided. The risk of loss, damage,
destruction or disappearance of any tape shall be borne by Licensee from the time of delivery to Licensee until the return thereof to Licensor or Licensor's designee and as to any video tape, disc or
other device or part thereof lost, stolen, destroyed or damaged after delivery to Licensee and before the return thereof, Licensee shall pay Licensor the cost of replacement thereof, which payment
shall be limited to the cost of replacing the raw video tape, disc or other device. 

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        3.5  Except
as provided herein, Licensee will not, and will not authorize others to, copy, duplicate or re-license any Program unless necessary for Licensee's or
its Affiliates own exploitation of broadcast rights as permitted hereunder. Any duplicate or copy of any part of the Program (including trailers) made by Licensee for its own purposes will be erased
following all anticipated broadcasts as permitted hereunder of the Program within the next 12 months. Upon receipt of written request from Licensor, an officer of Licensee shall certify in
writing the destruction of all such copies. 

        3.6  Licensor
will furnish to Licensee glossy prints of still photos, synopses, cast lists and all other promotional material for the promotion and exploitation of the
Programs, if available. Licensor grants (and will cause its Affiliates to grant) to Licensee and its Affiliates the right to use and license others to use Licensor's name and, unless Licensee is
advised by Licensor that the rights of Licensor are limited (in which case, to the extent not limited), to use and license others to use the name and likeness of, and biographical material concerning,
each star, featured performer, writer, director and producer in the Programs and the titles of each Program and fictitious persons and locales therein, for advertising and publicity, of the Programs,
and any broadcaster or sponsor thereof, but not for direct endorsement of any product or service, provided that any such use will protect the copyrights of Licensor. To the extent available to
Licensor or its Affiliates after reasonable efforts, Licensor will furnish Licensee with music cue sheets for the Programs and the information necessary for administration of rights payments and
compliance with Section 507 of the Federal Communications Act of 1934, as amended concerning broadcast matter and disclosures required thereunder, insofar as that Section applies to Persons
furnishing program material for television broadcasting ("Section 507"). Subject to the foregoing and subject to Licensor's reasonable prior approval, Licensee shall have the right to produce
its own promotional material for or from the Programs. Televisa shall permit Televisa's proprietary artists to appear on or for Licensee or its Affiliates for promotional or programming purposes at
mutually agreeable times (which agreement shall not be unreasonably withheld), at Licensee's expense, it being agreed that Televisa may not be able to require an artist to appear, all requests to and
contacts with artists shall be made though a Televisa representative designated by Televisa, and Televisa shall not be required to approve any appearance which would interfere in any material respect
with Televisa's operations or productions. 

        3.7  Except
as provided in Section 3.8 below, Licensee agrees to include in its broadcast of Programs all copyright notices and all credits made part of each Program
including but not limited to stars, directors, producers and writers. 

        3.8  (a)
When requested by Licensee, Licensor in consultation with Licensee shall edit episodes of Programs in order to (i) end novelas by creating recaps on a limited
basis to cause the final episode to be broadcast at strategically competitive times (i.e., Thursday and Friday) and (ii) reduce the length of credits so that the opening credits are no longer
than 90 seconds in length and closing credits are no longer than 30 seconds in length. 

        (b)  Licensee
shall have the right to edit and make changes, additions and deletions to Programs in order to (i) eliminate internal credits when episodes of a Program
air back-to-back, (ii) adjust Program length to standard U.S. format lengths (i.e., 30-60-90-120 minute lengths) by changing starts
or finishes (with other desired edits for such purpose to be provided under paragraph (a) above), (iii) insert commercials during natural breaks in the Program and (iii) comply
with applicable government rules and regulations, including FCC regulations and Licensee's broadcast standards and practices from time to time in effect. 

        (c)  When
requested by Licensee, Licensor in consultation with Licensee may (in its discretion which must be reasonably exercised) edit episodes of Programs in order to
(i) eliminate or consolidate episodes that contain more than 15 minutes of recap material, 

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(ii) eliminate any material that is not relevant to U.S. Hispanic audiences (i.e., phone numbers, addresses, contest rules, etc.), and (iii) facilitate wind-up of cancelled
Programs. 

        (d)  When
requested by Licensee, Licensor in consultation with Licensee may (in Licensor's sole discretion) edit episodes of Programs in order to (i) eliminate
storylines and segments in good faith deemed by Licensee to be undesirable or unacceptable to U.S. audiences (e.g., strong sexual content) and (ii) reformat Programs to a maximum of
2 hours per episode. 

The
editing rights hereunder shall be subject to applicable law and applicable contractual rights of unaffiliated third parties of which Licensor informs Licensee in writing at the time of delivery to
Licensee of such Program (provided that Licensor agrees to use (and to cause its Affiliates to use) good faith efforts not to permit to exist any such contractual restrictions). Licensee will pay for
editing performed by Licensor at Licensor's incremental cost. 

        3.9  Subject
to Section 6.1 and Licensee's remedies for a breach thereof, Licensor may, at its sole and absolute discretion, withdraw any Program and terminate any
license with respect to such Program if Licensor reasonably determines that the broadcast thereof is likely to: (i) infringe the rights of third parties, (ii) violate any law, court
order, governmental regulation or ruling of any governmental agency, (iii) otherwise subject the Licensor to any material liability. In addition Licensor reserves the right to withdraw any
Program prior to the conclusion of the applicable Broadcast Period if, for any reason, the Program is no longer being produced by or available to Televisa. In the event of any such withdrawal or
termination, Licensor shall give Licensee as much notice as possible, and the parties shall have no obligations to each other with regard to Programs not produced, subject to Section 6.1 and
Licensee's remedies for a breach thereof. 

        3.10 Notwithstanding
anything herein to the contrary, any incremental cost or expense of Licensor relating to this Section 3 that would not have been applicable prior
to the Restatement Date, shall be borne by Licensee. 

        4.    Royalties and License Fees.    

        4.1  

        (a)  Licensee
shall pay Licensor a royalty (the "Program Royalty") in cash for the Programs offered to it an aggregate amount equal to 5.5% of combined net time sales (as
defined in the Amended and Restated Program License Agreement) for the period commencing on October 1, 1996 and ending on December 31, 1996, 6.75% of combined net time sales (as defined
in the Amended and Restated Program License Agreement) for the period commencing on January 1, 1997 and ending on
December 31, 1997, 7.5% of combined net time sales (as defined in the Amended and Restated Program License Agreement) for the period commencing on January 1, 1998 and ending on
December 31, 2001, and for the year commencing on January 1, 2002, and for each year thereafter, 7.5% of Combined Net Time Sales plus an amount equal to 3% of Excess Time Sales (as
defined below) in such year, which amount shall not be less than zero in 2002. 

        (b)  Licensee
shall also pay Licensor a royalty (the "Telefutura Royalties") in cash for the Programs offered to it in an aggregate amount equal to 12% of Telefutura Net Time
Sales in each year minus 50% of the sum of the Annual Fixed Program Credit and the Annual Variable Program Credit for such year, provided that for each year commencing in calendar year 2003,
Telefutura Royalties for such year shall at least be equal to the applicable Minimum Additional Royalty for such year. The Telefutura Royalty shall be zero in 2002. 

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        (c)  For
purposes of this Agreement only: 

          (i)  "Annual
Fixed Program Credit" for any year means an amount equal to all license fees paid in such year by Licensee and its Affiliates in respect of novelas broadcast on
the Telefutura Network during the hours of 7 a.m. to 11 p.m. on weekdays pursuant to that certain Program License Agreement effective as of June 4, 2001 between UNLP and RCN
Television S.A. (the "RCN Agreement") and that certain Program license Agreement dated as of January 21, 2001 among UNLP, Coral International Television Corp. and RCTV, C.A. (the "Coral
Agreement"), provided the Annual Fixed Program Credit for any year shall not exceed the amount specified for such year in Annex A (the "Annual Cap"). 

        (ii)  "Annual
Variable Program Credit" means: 

        (A)  for
each calendar year in which Telefutura Net Time Sales are less than or equal to $200,000,000, an amount equal to the lesser of (i) an amount equal to all
license fees paid during such year by Licensee and its controlled Affiliates to acquire programs that are broadcast on the Telefutura Network between the hours of 7:00 a.m. and
11:00 p.m. [weekdays], from any Person other than (a) Licensee or its Affiliates, (b) Persons which produce and/or broadcast television programs initially
produced in the Spanish language in Mexico or their Affiliates (such programs, "Credited Programs") or (c) payments in such year under the RCN Agreement or the Coral Agreement up to the Annual
Cap for such year and (ii) $13,000,000; and 

        (B)  for
each calendar year during which Telefutura Net Time Sales exceed $200,000,000 (any such year, a "Current Year"), "Annual Variable Program Credit" means the lesser of
(1) an amount equal to all license fees paid in such Current Year by Licensee and its controlled Affiliates for Credited Programs
and (2) an amount equal to the Specified Amount (as defined below). For purposes of the preceding sentence, the "Specified Amount" for any such calendar year shall mean: 

                (I)  if
the Telefutura Net Time Sales for such Current Year exceed the Telefutura Net Time Sales for the immediately preceding calendar year (the "Preceding
Year"), the product of (X) the Annual Variable Program Credit for such Preceding Year multiplied by (Y) (A) 100% plus (B) 50% of the percentage increase of Telefutura Net Time
Sales during such Current Year over the greater of (x) the Telefutura Net Time Sales for such Preceding Year and (y) $200,000,000; or 

                (II)  if
the Telefutura Net Time Sales for such Current Year are less than the Telefutura Net Time Sales for the Preceding Year, the Specified Amount shall
equal the Minimum Amount (as defined below). For the purposes of the preceding sentence, the "Minimum Amount" for any such Current Year shall mean: (X) if the Telefutura Net Time Sales for such
Current Year is equal to the Telefutura Net Time Sales for any previous calendar year during the term of this Agreement (a "Prior Year"), the Minimum Amount shall be equal to the lowest Annual
Variable Program Credit for any such Prior Year; and (Y) if the Telefutura Net Time Sales for such Current Year is not equal to the Telefutura Net Time Sales for any Prior Year, then the
Minimum Amount for such Current Year will be equal to the Annual Variable Program Credit for the Prior Year whose Telefutura Net Time Sales are closest to, but less than, the Telefutura Net Time Sales
in the Current Year (the "Base Year Net Time Sales") multiplied by (I) 100% plus (II) 50% of the percentage increase of Telefutura Net Time Sales during such Current Year over the Base
Year Net Time Sales. 

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        (iii)  "Combined
Net Time Sales" means all time sales by the Networks and the Stations (and with respect to Other Outlets, to the extent solely related to the Networks),
including barter and trade and television subscription revenue (including, without limitation, satellite subscription revenue), less, to the extent related to the Stations and the Networks, without
duplication, (i) advertising commissions, (ii) Special Event Revenue (iii) music license fees, (iv) outside affiliate compensation, (v) time sales relating to
advertising sold to Televisa or provided to Venevision as contemplated by Section 22(b)(i) of this Agreement and the Venevision Agreement and included in times sales (vi) taxes
(other than withholding taxes) paid by Licensee pursuant to Section 4.5 hereof and similar taxes paid by the Stations, calculated in accordance with U.S. generally accepted accounting
principles ("GAAP"). Unless otherwise agreed in writing between the parties, barter and trade sales shall be valued at the fair market value of the goods or services received by the Networks or the
Stations. 

        (iv)  "Excess
Time Sales" means for any year, commencing calendar year 2002, the excess of the Combined Net Time Sales for the Stations and the Networks for such year over
the Combined Net Time Sales for the Stations and the Networks for calendar year 2001 but not less than zero. 

        (v)  "Telefutura
Net Time Sales" means all time sales in any year with respect to the Telefutura Network and the Telefutura Stations (and with respect to Other Telefutura
Outlets, to the extent solely related to the Telefutura Network), including barter and trade and television subscription revenue (including, without limitation, satellite subscription revenue), less
to the extent related to the Telefutura Network and Telefutura Stations (i) advertising commissions (other than in respect of Designated Sports Programs (as defined below), (ii) Special
Event Revenue, (iii) music license fees (other than in respect of Designated Sports Programs), (iv) outside affiliate compensation (other than in respect of Designated Sports Programs),
(v) time sales relating to advertising sold to Televisa or provided to Venevision as contemplated by Section 22(b)(i) of this Agreement and the Venevision Agreement and included
in time sales, (vi) taxes (other than withholding taxes) paid by Licensee pursuant to Section 4.5 hereof, calculated in accordance with GAAP, and (vii) Sports Revenue 

        (vi)  "Minimum
Additional Royalty" means an amount equal to $5,000,000 in calendar year 2003, increasing by $2,500,000 for each calendar year thereafter, subject to a maximum
annual Minimum Additional Royalty of $12,500,000. 

      (vii)  "Soccer
Letters" means that certain letter agreement dated November 13, 2000 between Televisa and UNLP and that certain letter agreement dated as of the date
hereof between Televisa and Licensee relating to the license of rights to certain Mexican league soccer games. 

      (viii)  "Sports
Revenue" means all time sales with respect to sports programming on the Telefutura Network and the Telefutura Stations other than sports programs licensed
hereunder or under the Soccer Letters (sports programs other than those licensed hereunder or under the Soccer Letters being referred to as "Designated Sports Programs"). 

        4.2  Notwithstanding
Section 4.1 above, to the extent from time to time specified in a writing signed by both Licensor and Venevision and delivered to Licensee, the
amounts of the Program Royalties payable in accordance with Section 4.1(a) of this Agreement and the Venevision Agreement (without giving effect to any payment based upon Excess Time Sales) may
be changed by Licensor and Venevision, so long as the aggregate of the amounts of such Program Royalties (other than Program Royalties based upon Excess Time Sales) under this Agreement and the 

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Venevision Agreement does not exceed for any period 15% of Combined Net Times Sales. Licensor and Venevision shall not deliver such a writing more than twice a year. 

        4.3  Program
Royalties and Telefutura Royalties shall be paid currently on a monthly basis on the twelfth business day after the end of each month in a single payment to
Licensor based upon the parties' good faith best estimate at such time of the amounts accrued. Appropriate adjustment (the "Adjustment") will be made to Program Royalties and Telefutura Royalties on a
quarterly basis within 45 days after the end of each quarter, and the full amount thereof shall be paid or credited, as the case may be, with the next monthly payment of Program Royalties or
Telefutura Royalties for any difference between the amounts so paid and those finally determined to have accrued. In all cases, the calculation of the
Adjustment will be made as promptly as practicable by Licensee, and in the event of any disputes the determination shall be made by a nationally recognized independent certified public accounting firm
mutually selected by Licensor and Licensee (or, if they fail to designate such a firm within 10 days after written notice of a dispute, by such firm designated by the President of the American
Arbitration Association (or his designee)), whose determination will be final and binding upon the parties. The fees and expenses of such firm shall be paid one-half by Licensor and
one-half by Licensee, unless such firm determines it would be more equitable to otherwise allocate such fees and expenses. 

        4.4  All
payments made pursuant to this section shall be in cash in U.S. currency with accompanying back-up information in reasonable detail of Combined Net Time
Sales and Telefutura Net Time Sales for the applicable period. In the case of the Program Royalties and the Telefutura Royalties such payments shall be calculated as provided above regardless of the
amount of Programs licensed hereunder or whether any such Programs are broadcast. In order to assure compliance with the terms of this Agreement, Licensor shall have the right to receive once each
year a certificate from Licensee's independent certified public accounting firm, which certificate shall attest to the combined net time sales for the year. Licensee shall pay for the preparation of
such certificate and its delivery to Licensor. Licensor may request additional certificates and services either from Licensee's accounting firm or from a firm of certified public accountants chosen by
Licensor. The fees and expenses of the certified public accountants providing such additional certificates and performing such additional services pursuant to this Section 4.4 shall be paid by
Licensor, unless such verification results in an adjustment in Licensor's favor equal or greater than 5% of the amount originally computed by Licensee, in which case such fee will be paid by Licensee.
Licensee agrees to provide any certified public accountants designated by Licensor with access to all business records of Licensor related to the computation of Combined Net Time Sales or Telefutura
Net Time Sales, as applicable. Licensor agrees to maintain the confidentiality of all information learned from Licensee in connection with the performance of this Agreement, other than information
(i) which becomes public (unless it becomes public because of a breach of this covenant by Licensor), (ii) which otherwise becomes known to Licensor (unless Licensor knows that the
information has been disclosed in violation of a confidentiality agreement with Licensee), or (iii) which Licensor is required by law, order or administrative law request or by stock exchange
rule or regulation to divulge. 

        4.5  Any
and all sums payable on account of sales, use or other similar taxes arising out of or relating to the licensing or exhibition by Licensee of the Programs, in
addition to any personal property or other tax assessed or levied by any governmental unit arising out of or relating to the storage or possession of the Programs thereof by Licensee shall be paid by
Licensee. 

        4.6  Licensee
may deduct and withhold from any payment to or for the account of Licensor with respect to the Program Royalties or Telefutura Royalties such amounts as it in
good faith determines it is required to withhold with respect to such payment under applicable United States and state tax withholding laws, and shall promptly remit such amounts to the appropriate
taxing authority. Within 30 days of any such remittance Licensee shall furnish to Licensor the original or 

10

 

certified copy of a receipt evidencing payment, or other evidence of payment reasonably satisfactory to Licensor. If Licensor has timely filed with Licensee a duly completed Form 4224, 1001,
W-8 or W-9, of the Internal Revenue Service (or successor form thereto) or has complied with applicable procedures under state law, entitling it to exemption from, or a reduced
rate of, withholding under the applicable
law or regulations, the amount withheld shall be accordingly limited. Licensee shall cooperate in any reasonable manner requested by Licensor to minimize Licensor's withholding tax liability. 

        4.7  If
Licensee is more than 30 days late in paying any amount due to Licensor under this Section 4, such late amounts shall thereafter bear interest at a rate
equal to LIBOR plus 5%, plus any applicable withholding. 

        5.    Special Programs, Co-Produced Programs and Other Special License Matters.    

        5.1  For
purposes of this Agreement: 

        (a)  "Special
Programs" means special programs such as the World Cup, other sporting events, political conventions, election coverage, parades, pageants, special variety
shows and other non-episodic and non-continuing shows. 

        (b)  "Non-Televisa-Produced
Special Programs" means Special Programs not produced directly or indirectly by or for Televisa. 

        (c)  "Televisa-Produced
U.S. Special Programs" means Televisa-Produced Special Programs for which Licensor has adequate rights to license such Special Programs to Licensee
under the terms of this Agreement. 

        (d)  "Televisa-Produced
Non-U.S. Special Programs" means Televisa-Produced Special Programs for which Licensor does not have adequate rights to license such
Special Programs to Licensee under the terms of this Agreement. 

        (e)  "Televisa-Produced
Special Programs" means Special Programs directly or indirectly produced by or for Televisa. 

        (f)    "Special
Event Revenue" means net time sales for Non-Televisa-Produced Special Programs and Non-Venevision-Produced Special Programs as defined
in the Venevision Agreement broadcast by Licensee on either Network. 

        5.2  Licensor
shall use its best efforts, and shall cause its Affiliates to use their best efforts, to coordinate its Non-Televisa-Produced Special Program
acquisitions with those of Licensee, so as to permit Licensee to participate therein and to acquire rights in the Territory to such programs on an advantageous basis
and on terms satisfactory to Licensee; provided, however, that the obligation to use "best efforts" shall not be interpreted to include any obligation
of Licensor or its Affiliates to expend additional money to permit Licensee's participation or to acquire rights on an advantageous basis. 

        5.3  Televisa-Produced
U.S. Special Programs shall be "Programs" for all purposes of this Agreement. 

        5.4  At
the request of Licensee, Licensor shall use its best efforts, and shall cause its Affiliates to use their best efforts, to acquire broadcast rights in the Territory
on terms satisfactory to Licensee for Televisa-Produced Non-U.S. Special Programs and any Co-Produced Program that falls within clause (i) (but not clause (ii))
of the definition of "Co-Produced Programs" in Section 1.2(c); provided, however, that the obligation to use its "best efforts" shall not be interpreted to include any obligation of
Licensor to expend additional money, except to the extent reimbursed by the "Special Event Fee" (as defined below). Such programs accepted by Licensee shall be licensed hereunder to Licensee for the
Program Royalty plus a license fee (the "Special Event Fee") in the amount of the cost to Licensor of the acquisition of broadcast rights in the 

11

 

Territory to such program, such costs to be determined by the parties in good faith based on the portion of the total amount paid by Licensor for broadcast rights that is reasonably allocated to the
acquisition of broadcast rights in the Territory. 

        5.5  Licensor
shall offer Licensee in accordance with all applicable provisions of this Agreement all Co-Produced Programs that fall within clause (ii) of
the definition of "Co-Produced Program" in Section 1.2(c) for which program Licensor has or can obtain adequate rights and licensing authority to offer such programs to Licensee in
compliance with the terms and conditions of this Agreement, except that the Program Royalty specified in Section 4.1(a) hereof shall not include the license fee for Co-Produced
Programs. Compensation to Licensor for all Co-Produced Programs accepted by Licensee shall be computed and paid in accordance with such terms as the parties may mutually agree in writing.
If the parties are unable to agree on the royalty for any Co-Produced Program within 10 days after such program is offered by Licensor, such program may be sold to others in the
Territory, so long as Licensor in good faith determines that the terms and conditions applicable to such sale are more favorable to the Licensor than those offered by the Licensee in writing within
such 10-day period. 

        6.    Representations and Warranties of Licensor.    

        6.1  Licensor
hereby agrees, warrants and represents as follows: 

        (a)  Licensor
is free to enter into and fully perform this Agreement; 

        (b)  Licensor
has or will have the right to grant to Licensee the broadcast rights to the Accepted Programs in the Territory set forth in this Agreement, including but not
limited to the necessary literary, artistic, technological and intellectual property rights and has secured or will secure all necessary written consents, permissions and approvals for incorporation
into such Programs of the names, trademarks, likenesses and/or biographies of all persons, firms, products, companies and organizations depicted or displayed in such Programs, and any preexisting film
or video footage produced by third parties; 

        (c)  There
are no and will not be any pending claims, liens, charges, restrictions or encumbrances on the Accepted Programs that conflict with the broadcast rights granted
hereunder to such Programs in the Territory; 

        (d)  Licensor
has paid or will pay all compensation, residuals, reuse fees, synchronization royalties, and other payments which must be made in connection with the Accepted
Programs and in connection with exploitation of the rights herein granted to Licensee to any third parties including, but not limited to, musicians, directors, writers, producers, announcers,
publishers, composers, on-camera and off-camera performers and other persons who participated in production of such Programs, and to any applicable unions, guilds or other
labor organizations; provided, however, that Licensor has not acquired performing rights for performance in the Territory of the music contained in such
Programs, which rights shall be obtained by Licensee; provided, further, however, that Licensor warrants and represents that all music is available for
licensing through ASCAP, BMI or SESAC (or any successor or similar entity in the United States) or is in the public domain or is owned or controlled by Licensor to the extent necessary to permit
broadcasts hereunder in the Territory and no additional clearance or payment is required for such broadcast; 

        (e)  The
main and end titles of the Accepted Programs and all publicity, promotion, advertising and packaging information and materials supplied by Licensor will contain all
necessary and proper credits for the actors, directors, writers and all other persons appearing in or connected with the production of such Programs who are entitled to receive credit and comply with
all applicable contractual, guild, union and statutory requirements and agreements; 

12

 

        (f)    Exercise
of the broadcast rights to the Accepted Programs in the Territory will not infringe on any rights of any third party, including but not limited to copyright,
patent, trademark, unfair competition, contract, property, defamation, privacy, publicity or "moral rights" (to the extent such moral rights are recognized by U.S. law); 

        (g)  Except
to the extent expressly permitted by this Agreement, Licensor has not and will not grant or license to others, and will not itself exercise, any rights to
broadcast any Program in or to the Territory, including, but not limited to, by way of any broadcast over the radio of any audio portion of any
Accepted Program that is a novela in the Territory (other than spill-over from Licensor's border radio stations in Mexico). 

        (h)  Each
and every one of the representations and warranties made by Licensor herein shall survive the Broadcast Period for each Accepted Program; 

          (i)  To
the extent Section 507 (as defined in Section 3.6 above) is applicable, no Accepted Program includes or will include any matter for which any money,
service or other valuable consideration is directly or indirectly paid or promised to Licensor by a third party, or accepted from or charged to a third party by Licensor, unless such is disclosed in
accordance with Section 507. Licensor shall exercise reasonable diligence to inform its employees, and other persons with whom it deals directly in connection with such programs, of the
requirements of Section 507; provided, however, that no act of any such employee or of any independent contractor connected with any of the programs, in contravention of the provisions of
Section 507, shall constitute a breach of the provisions of this paragraph unless Licensor has actual notice thereof and fails promptly to disclose such act to Licensee. As used in this
paragraph, the term "service or other valuable consideration" shall not include any service or property furnished without charge or at a nominal charge for use in, or in connection with, any of the
programs "unless it is so furnished in consideration for an identification in a broadcast of any person, product, service, trademark or brand name beyond an identification which is reasonably related
to the use of such service or property on the broadcast," as such terms are used in Section 507. No inadvertent failure by Licensor to comply with this paragraph shall be deemed a breach of
this Agreement; and 

        (ii)  For
purposes of this Section 6.1 only, "Accepted Programs" shall be deemed to include Televisa Produced U.S. Special Programs to the extent broadcast by
Licensee. 

        6.2  Licensor
further agrees that, while it has no obligation to do so, if it secures a producer's (Errors and Omissions) liability policy covering the Programs, or any part
thereof, it will cause Licensee to be named as an additional insured on such policy and will cause a certificate of insurance to be promptly furnished to Licensee, provided, however, that the
inclusion of Licensee as an additional insured does not result in any additional cost or expense to Licensor. Licensor will notify Licensee when such insurance is obtained and, after obtained if
cancelled. Any such insurance as to which Licensee is an additional insured shall be primary as to Licensee and not in excess of or contributory to any other insurance provided for the benefit of or
by Licensee. 

        7.    Indemnification.    

        7.1  Licensor
agrees to hold Licensee, its partners, the partners of any partnership that is a partner of Licensee, officers, employees, and agents and the shareholders,
officers, directors, employees and agents of the partners or any corporation or partnership that is a partner of Licensee (collectively the "Licensee Indemnitees"), harmless, from any claims,
deficiencies, assessments, liabilities, losses, damages, expenses (including, without limitation, reasonable fees and expenses of counsel) (collectively, "Losses") which any Licensee Indemnitee may
suffer by reason of Licensor's breach of, or
non-compliance with, any covenant or provision herein contained or the inaccuracy of any warranty or representation made in this Agreement and any such damages shall 

13

 

be reduced by: (i) the amount of any net tax benefit ultimately accruing to Licensee on account of Licensee's payment of such claim; (ii) insurance proceeds which Licensee has or will
receive in connection with such claim, and (iii) any recovery from third parties in connection with such claim; provided, however, that Licensor
shall not delay payment of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if Licensee provides Licensor with an undertaking to
reimburse Licensor for the amount of any such claim ultimately received; and provided, further, that Licensee shall have no obligation to obtain any
such insurance proceeds or recovery from third parties if and to the extent Licensor is subrogated (in form and substance satisfactory to Licensor) to Licensee claims in respect of such insurance or
third parties. 

        7.2  Licensee
agrees to indemnify Licensor, its direct and indirect shareholders and all officers, directors, employees and agents of any of the foregoing (the "Licensor
Indemnitees") against and hold the Licensor Indemnitees harmless from any and all Losses incurred or suffered by any Licensor Indemnitee arising out of a breach by Licensee of the representations,
warranties, covenants or agreements made or to be performed by it pursuant hereto, or arising out of any program or commercial material (apart from the Programs) furnished by Licensee and any such
damages shall be reduced by: (i) the amount of any net tax benefit ultimately accruing to Licensor on account of Licensor's payment of such claim; (ii) insurance proceeds which Licensor
has or will receive in connection with such claim, and (iii) any recovery from third parties in connection with such claim; provided, however,
that Licensee shall not delay payment of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if Licensor provides Licensee with an
undertaking to reimburse Licensee for the amount of any such claim ultimately received; and provided, further, that Licensor shall have no obligation to
obtain any such insurance proceeds or recovery from third parties if and to the extent Licensee is subrogated (in form and substance satisfactory to Licensee) to Licensor claims in respect of such
insurance or third parties. 

        7.3  The
following procedures shall govern all claims for indemnification made under any provision of this Agreement. A written notice (an "Indemnification Notice") with
respect to any claim for indemnification shall be given by the party seeking indemnification (the "Indemnitee") to the party from which indemnification is sought (the "Indemnitor") within thirty
(30) days of the discovery by the Indemnitee of such claim, which Indemnification Notice shall set forth the facts relating to such claim then known to the Indemnitee (provided that failure to
give such Indemnification Notice as aforesaid shall not release the Indemnitor from its indemnification obligations hereunder unless and to the extent the Indemnitor has been prejudiced thereby). The
party receiving an Indemnification Notice shall send a written response to the party seeking indemnification stating whether it agrees with or rejects such claim in whole or in part. Failure to give
such response within ninety (90) days after receipt of the Indemnification Notice shall be conclusively deemed to constitute acknowledgment of the validity of such claim. If any such claim
shall arise by reason of any claim made by third parties, the Indemnitor shall have the right, upon written notice to Indemnitee within 30 days after receipt of the Indemnification Notice, to
assume the defense of the matter giving rise to the claim for indemnification through counsel of its selection reasonably acceptable to Indemnitee, at Indemnitor's expense, and the Indemnitee shall
have the right, at its own expense, to employ counsel to represent it; provided, however, that if any action shall include both the Indemnitor and the
Indemnitee and there is a conflict of interest because of the availability of different or additional defenses to the Indemnitee, the Indemnitee shall have the right to select separate counsel to
participate in the defense of such action
on its behalf, at the Indemnitor's expense. The Indemnitee shall cooperate fully to make available to the Indemnitor all pertinent information under the Indemnitee's control as to the claim and shall
make appropriate personnel available for any discovery, trial or appeal. If the Indemnitor does not elect to undertake the defense as set forth above, the Indemnitee shall have the right to assume 

14

 

the defense of such matter on behalf of and for the account of the Indemnitor; provided, however, the Indemnitee shall not settle or compromise any
claim without the consent of the Indemnitor, which consent shall not be unreasonably withheld. The Indemnitor may settle any claim at any time at its expense, so long as such settlement includes as an
unconditional term thereof the giving by the claimant of a release of the Indemnitee from all liability with respect to such claim. 

        8.    Term.    The term of this Agreement (the "Term") shall be until December 17, 2017. Any license in effect
for any Program at the end of the Term shall continue through the Broadcast Period for such applicable Program, with no right of re-license or extension at the end
thereof,and all of the rights and obligations of the parties under this Agreement with respect to such license will continue through the Broadcast
Period for such Program, it being agreed that the parties shall enter into mutually satisfactory royalty arrangements with respect to the Broadcast Period following the termination of this Agreement
in order to compensate Licensor for the use of Programs during such period and, if the parties are unable to agree upon such royalty arrangements, the amount thereof shall be determined based on
prevailing market conditions. For Programs that commence broadcast on the Networks or the Telefutura Network in the final year of the Term, Licensee must commence the broadcast of the Program on one
of such networks over at least 70% of such network's coverage (as determined by the number of Hispanic television households potentially reached by the applicable network) and shall continue to
broadcast the Program without substantial interruption over such minimum of 70% network coverage until the conclusion of the Broadcast Period for such Program. 

        For
purposes of this Agreement only: 

        (a)  "Broadcast
Period" means 

          (i)  for
novelas or other Programs with a plot line continuing through more than one episode, the time necessary to broadcast all episodes on a continuing basis without
substantial interruption and 

        (ii)  for
all other programs (excluding one-program shows), (x) for weekly programs, the time period necessary to broadcast 26 episodes of the Program
without substantial interruption, which under normal circumstances is expected to be 26 continuous weeks and (y) for daily programs (Monday through Friday), 26 weeks. 

        (b)  "without
substantial interruption" means that the Programs will be scheduled and run on a continuing periodic basis except for occasional network preemption to
accommodate one-time specials
or programs which, because of their nature or timeliness or because of FCC Rules, must in Licensee's reasonable judgment be broadcast in lieu of the regularly scheduled Program. 

        In
addition this Agreement may be terminated by either party in the event that the other party (i) materially breaches its obligations hereunder and fails to cure such breach
within 180 days of notice thereof (90 days for failure to pay the Program Royalty or Telefutura Royalty when due) by the party seeking termination (which notice shall describe the breach
in reasonable detail); provided, however, that the inaccuracy of any of Licensor's representations and warranties contained in Section 6 hereof
shall not be deemed to be a breach of its obligations for purposes of this Section 8 to the extent that Licensor satisfies its indemnification obligations with respect to such inaccuracy, or
(ii) asserts Force Majeure under Section 9 as a relief from substantially all of its obligations hereunder for a period in excess of one year. Any notice of material breach referred to
in (i) above shall concurrently be sent to the Managing Agents for any lenders providing financing to the Stations and the Networks, and the Managing Agents on behalf of such lenders shall have
the right to cure such alleged material breach within such 90-day or 180-day cure period. Any notice of termination for Force Majeure pursuant to (ii) above shall
concurrently be sent to such Managing Agents. 

15

 

        9.    Force Majeure.    Neither party hereto shall be liable for or suffer any penalty or termination of rights
hereunder by reason of any failure or delay in performing any of its obligations hereunder if such failure or delay is occasioned by compliance with governmental regulation or order, or by
circumstances beyond the reasonable control of the party so failing or delaying, including but not limited to acts of God, war, insurrection, fire, flood, accident, strike or other labor disturbance,
interruption of or delay in transportation (a "Force Majeure Event"). Each party shall promptly notify the other in writing of any such event of force majeure, the expected duration thereof, and its
anticipated effect on the party affected and make reasonable efforts to remedy any such event, except that neither party shall be under any obligation to settle a labor dispute. If Licensor is
prevented by a Force Majeure Event from delivering any Accepted Program to Licensee, the running of the time period for purposes of computing the applicable Broadcast Period for such Program shall be
suspended and, if such Force Majeure Event prevents Licensor from delivering any substitute Programs to Licensee, then Licensee's obligations to pay the Program Royalty or Telefutura Royalty under
Section 4.1 hereof shall be reduced (but not below zero) for the time period or periods so affected to the extent necessary to compensate Licensee for the cost of obtaining substitute
programming. Any notice of Force Majeure sent pursuant to this Section 9 shall concurrently be sent to the Managing Agents referred to in Section 8 above. 

        10.    Modification.    This Agreement shall not be modified or waived in whole or in part except in writing signed by
an officer of the party to be bound by such modification or waiver. 

        11.    Waiver of Breach.    A waiver by either party of any breach or default by the other party shall not be
construed as a waiver of any other breach or default whether or not similar and whether or not occurring before or after the subject breach. 

        12.    Jurisdiction; Venue; Service of Process.    Each of the parties irrevocably submits to the jurisdiction of any
California State or United States Federal court sitting in Los Angeles County in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, and
irrevocably agrees that any such action or proceeding may be heard and determined only in such California State or Federal court. Each of the parties irrevocably waives, to the fullest extent it may
effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding. Each of the parties irrevocably appoints CT Corporation System (the "Process Agent"), with
an office on the date hereof at 818 West 7th Street, Los Angeles, CA, 90017 as his or its agent to receive on behalf of him or it and his or its property service of copies of the summons and complaint
and any other process which may be served in any such action or proceeding. Such service may be made by delivering a copy of such process to any of the parties in care of the Process Agent at the
Process Agent's above address, and each of the parties irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternate method of service, each of the parties
consents to the service of copies of the summons and complaint and any other process which may be served in any such action or proceeding by the mailing or delivering of a copy of such process to such
party at its address specified in or pursuant to Section 13. Each of the parties agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. 

        13.    Notices.    All notices and other communications required or permitted hereunder shall be in writing, shall be
deemed duly given upon actual receipt, and shall be delivered (a) in person, (b) by registered or certified mail (air mail if addressed to an address outside of the country in which
mailed), postage prepaid, return receipt requested, (c) by a generally recognized overnight courier service which provides written acknowledgment by the addressee of receipt, or (d) by
facsimile or other generally accepted means of electronic transmission (provided that a copy of any notice delivered pursuant to this clause (d) shall also be sent pursuant to
clause (b)), addressed as set forth in Schedule 1 or to such other addresses as may be specified by like notice to the other parties. 

16

 

        14.    Assignments.    Either of the parties may assign its rights hereunder and delegate its duties hereunder, in
whole or in part, to an Affiliate capable to perform the assignor's obligations hereunder, and either of the parties may assign its rights hereunder and delegate its duties hereunder to any person or
entity to which all or substantially all of such party's businesses and assets are pledged or transferred. No such assignment or delegation shall relieve any party of its obligations hereunder. Any
such assignment or delegation authorized pursuant to this Section 14 shall be pursuant to a written agreement in form and substance reasonably satisfactory to the parties and to the Managing
Agents referred to in Section 8 above. Except as otherwise expressly provided herein, neither this Agreement nor any rights, duties or obligations hereunder may be assigned or delegated by any
of the parties, in whole or in part, whether voluntarily, by operation of law or otherwise; provided, however, that Licensor may assign, grant a security interest in or otherwise transfer its rights
to payment hereunder in connection with one or more financings. Any attempted assignment or delegation in violation of this prohibition shall be null and void. Subject to the foregoing, all of the
terms and provisions hereof shall be binding upon, and inure to the benefit of, the successors and assigns of the parties. Nothing contained herein, express or implied, is intended to confer on any
person other than the parties or their respective successors and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 

        15.    Governing Law.    This Agreement and the legal relations among the parties shall be governed by and construed
in accordance with the laws of the State of California applicable to contracts between California parties made and performed in that State, without regard to conflict of laws principles. 

        16.    Further Assurances.    Each party hereto agrees to execute any and all additional documents and do all things
and perform all acts necessary or proper to further effectuate or evidence this Agreement including any required filings with the U.S. Copyright Office. 

        17.    Counterparts.    This Agreement may be executed in counterparts, each of which shall be an original instrument
and all of which, when taken together, shall constitute one and the same agreement. 

        18.    Severability.    If any provision of this Agreement, or the application thereof, shall for any reason or to any
extent be invalid or unenforceable, then the remainder of this Agreement and application of such provision to other persons or circumstances shall continue in full force and effect and in no way be
affected, impaired or invalidated; provided that the aggregate of all such provisions found to be invalid or unenforceable does not materially affect the benefits and obligations of the parties of the
Agreement taken as a whole. 

        19.    Specific Performance.    The parties hereto agree that irreparable damage may occur in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties may be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction pursuant to
Section 12, this being in addition to any other remedy to which they are entitled at law or in equity. 

        20.    [Intentionally omitted]    

        21.    Participation Agreement.    All the terms and conditions of this Agreement shall at all times be subject to the
terms and conditions of the Participation Agreement dated as of October 2, 1996 by and among UCI, A. Jerrold Perenchio, GT, Messrs. Gustavo A. Cisneros and Ricardo J. Cisneros and
Corporacion Venezolana de Television, C.A. (VENEVISION), and if there is any inconsistency between any terms and conditions of this Agreement and the terms and conditions of the Participation
Agreement, the Participation Agreement shall prevail. 

17

 

        22.    Televisa Advertising.    

        (a)  Advertising
time on the Networks, the Stations and the Telefutura Network and the Telefutura Stations which is not sold to advertisers or used by Licensee or its
subsidiaries for their own purposes will be made available without charge to Televisa, Venevision and their Affiliates. Other than as set forth in the following sentence, such time may be used for
promotion or direct sale (i.e., telemarketing) of products or services now or hereafter owned or being provided by Televisa, Venevision or their Affiliates (including, without limitation, theatrical
motion pictures produced or being distributed by any of them). Such time, however, will not be available for any product or service that is marketed primarily by telemarketing that was not owned or
being provided by Televisa, Venevision or their Affiliates as of December 17, 1992, and provided, further, that such time may be preempted by Licensee or its subsidiaries to the extent that
such time is to be sold to a paying advertiser; provided further, such time on the Telefutura Network and the Telefutura Stations shall be limited to no more than 30 seconds per hour for Televisa and
its Affiliates and 30 seconds per hour for Venevision and its Affiliates. 

        (b)  Televisa
and its Affiliates will also (i) purchase an aggregate of $5,000,000 per year in advertising and (ii) shall be permitted to purchase additional
advertising time on the Univision Network, the Galavision Network and the Telefutura Network which cannot be preempted by Licensee or its Affiliates which time shall be sold for the lowest spot rate
then being offered for a non-preemptable spot in the program during which such time is sold. 

        (c)  Televisa
may not, however, directly or indirectly make such free or purchased time available to Persons other than its Affiliates. All material provided for broadcast by
Televisa shall comply with the quality standards for unaffiliated advertisers established by Licensee or its subsidiaries from time to time. The Board of Directors of Licensee, by a vote which
includes, in addition to any other required vote of directors, the affirmative vote of a majority of the Class T Director(s) (so long as a Class T Voting Conversion (as defined in the
Restated Certificate of Incorporation of UCI) has not occurred) or a majority of the Class V Director(s) (so long as a Class V Voting Conversion (as defined in the Restated Certificate
of Incorporation of UCI) has not occurred, may make such rules in connection with the use of such time by Venevision and its Affiliates as it determines to be appropriate, including, without
limitation, rules for the fair allocation of such time between Venevision and Televisa and their respective Affiliates. 

        23.    Univision Advertising.    Licensee and its controlled Affiliates will purchase an aggregate of $5,000,000 per
year in advertising on Licensor's television networks which cannot be preempted by Licensor or its Affiliates which time shall be sold for the lowest spot rate then being offered for a
non-preemptable spot in the program during which such time is sold. Licensee may not, however, directly or indirectly make such free or purchased time available to Persons other than its
controlled Affiliates. All material provided for broadcast by Licensee or its Affiliates shall comply with the quality standards for unaffiliated advertisers established by Licensor or its Affiliates
from time to time. 

        24.    Internet.    

        (a)  Notwithstanding
anything to the contrary contained in this Agreement, for a period of five (5) years from the Restatement Date, except to the extent permitted by
paragraphs (b) and (c) below, and after the fifth anniversary of the Restatement Date, except to the extent permitted by paragraphs (b) and (c) below, and except to the
extent, if any, otherwise permitted by this Agreement or the Memorandum of Agreement dated as of the date hereof between Televisa and UCI relating to Pay Television or implementing documents
(i) Licensee may not broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit, any Program or any portion thereof over or by means of the internet, or similar
systems, now existing or hereafter developed ("Internet") and (ii) Licensor may not broadcast or otherwise 

18

 

transmit, or permit others to broadcast or otherwise transmit, Programs covered by this Agreement (or any portion thereof) over or by means of the Internet. 

        (b)  Licensor
shall have the right to broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit, over or by means of the Internet "clips" from
Programs covered by this Agreement so long as (i) in the case of novelas, clips from any episode of a Program may not exceed 30 seconds in the aggregate in duration and no clips may be used
which are from any of the last 5 chapters of any such novela or from any portion of any episode that reveals the resolution of any plot or conflict (provided that such restriction regarding final
chapter clips and clips revealing plot or conflict resolution with respect to any novela shall not be applicable before 6 months prior to UCI's broadcast of such novela and UCI will give
Licensor reasonable notice to enable Licensor to comply with this restriction), (ii) in the case of Programs (other than novelas and sports events) clips from any episode of a Program may not
exceed 60 seconds in the aggregate in duration and (iii) in the case of sports events, clips are (a) to be carried with at least a 5 minute delay from the live event and
(b) limited to highlights of such event of not more than 2 minutes per highlight clip and 10 minutes in the aggregate. 

        (c)  To
the extent appropriate technology exists or is hereafter developed so that video images through a streaming media or other similar application (hereinafter "streaming
video") can be sold through the Internet on a subscription basis, then Licensor and its Affiliates may exploit, or permit others to exploit, outside the Territory the sale of Programs selected by
Televisa (all such Programs being referred to as "Televisa Internet Content") via the Internet on a subscription basis only; provided that Televisa or such other person uses commercially reasonable
efforts to prohibit reception of such Televisa Internet Content in Territory. 

        (d)  After
the fifth anniversary of the Restatement Date, unless the parties otherwise agree in writing, for the purposes of determining the rights of Licensor and its
Affiliates with respect to the Internet, Section 1.3 of this Agreement shall revert to the provisions of Section 1.3 as in effect immediately prior to the date hereof as set forth on
Exhibit A hereto, and no presumption shall be implied or created by the modification to Section 1.3 as of the date hereof, or the agreements and transactions entered into by Licensor and
Licensee and their respective Affiliates as of the date hereof, it being acknowledged and agreed that Licensor and Licensee disagree as to the rights of Licensor and its Affiliates under
Section 1.3 as in effect prior to the Restatement Date and Licensor and Licensee and their respective Affiliates reserve all rights. 

        IN
WITNESS WHEREOF, the parties have set their hands as of the day and year first above written. 

	 	 	TELEVISA INTERNACIONAL, S.A. DE C.V.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

	

 	
 	
UNIVISION COMMUNICATIONS INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

19

 
 
 

Exhibit A    
  

        1.3  Licensor
and its Affiliates shall have the right and ability to, and to permit others to: (i) transmit or re-transmit in any electronic form or other
means, from any television station in Mexico, or via satellite which receives its signal from any earth station or other facility in Mexico, any Programs which may also be covered by this Agreement,
notwithstanding the fact that such transmissions or re-transmissions may be viewed in the Territory, provided that neither Licensor nor its Affiliates consent to the retransmission of such
Programs by any television station in the Territory or by any cable system in the Territory that is located beyond 35 miles from the community of license of any transmitting television station in
Mexico transmitting the Programs (any such cable re-transmission within such 35 mile limit being hereby expressly permitted); and (ii) market and promote and otherwise generate
revenues (including, but not limited to, the sale of advertising time) attributable to the ability of viewers in the Territory to receive such Programs. 

20

 
 
 

Annex A    
  

 
 

Annual Cap    
  

	YEAR
	 	AMOUNT

	2002	 	$12.8 million
	2003	 	$13.2 million
	2004	 	$13.7 million
	2005	 	$15.0 million
	2005	 	$15.5 million
	2007	 	$7.6 million
	2008	 	$8.5 million
	2009	 	$8.5 million
	2010	 	$8.5 million
	2011	 	$9.5 million
	2012	 	$7.0 million

21

 
 
 

GUARANTY    
  

        For and in consideration of the execution by UNIVISION COMMUNICATIONS INC. ("Licensee") of that Second Amended and Restated Program License Agreement (the
"License Agreement"; terms not defined herein shall have the meaning given to them in the License Agreement), between Licensee and TELEVISA INTERNACIONAL, S.A. de C.V.. ("Licensor"), of even date
herewith, GRUPO TELEVISA, S.A. ("Guarantor") hereby agrees as follows: 

        1.    Guarantor
confirms and joins in the representations and warranties made by Licensor in 2btion 6 of the License Agreement; 

        2.    Guarantor
agrees that for the term of the License Agreement it and its Affiliates will produce each year for Licensee's use at least 8,531 hours of Programs which
Programs will be representative of the quality of Programs produced by Licensor and its Affiliates during calendar year 2000. Of such 8,531 hours (i) for each of the first five years
following the Restatement Date, Guarantor agrees that it or its Affiliates will produce on an annual basis novelas sufficient for five hours per day, five days per week; and (ii) for each year
following the fifth anniversary of the Restatement Date, Guarantor agrees that it or its Affiliates will produce on an annual basis novelas sufficient for the lower of (a) five hours per day,
five days per week or (b) five times the sum of (x) the average number of hours per day in the preceding year during which novelas are broadcast on the Univision Network during prime
time hours plus (y) one hour. If after the fifth anniversary of the Restatement Date, the popularity of novelas in Mexico materially decreases, Guarantor may request that the minimum novela
production requirements be lowered with the addition of a mutually agreeable corresponding production requirement in a different genre, and Licensee will negotiate such proposals with Guarantor in
good faith, based on the popularity of novelas and the different genre in the United States. Except with respect to the hours of novelas described above, nothing herein shall require Guarantor to
produce any particular type or mix of programs. The provision of this 2btion 2 shall be subject to force majeure as provided in 2btion 9 of the License Agreement. 

        3.    Guarantor
guarantees the full performance by Licensor of all of its obligations under the License Agreement and further agrees to be bound, and cause its Affiliates to be
bound, by the provisions of the License Agreement applicable to it or such Affiliates, as the case may be. 

        4.    Guarantor
irrevocably submits to the jurisdiction of any California State or United States Federal court sitting in Los Angeles County in any action or proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby, and irrevocably agrees that any such action or proceeding may be heard and determined only in such California State or
Federal court. Guarantor irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding. Guarantor
irrevocably appoints CT Corporation System (the "Process Agent"), with an office on the date hereof at 818 West 7th Street, Los Angeles, CA 90017 as its agent to receive on behalf of it and its
property service of copies of the summons and complaint and any other process which may be served in any such action or proceeding. Such service
may be made by delivering a copy of such process to Guarantor in care of the Process Agent at the Process Agent's above address, and Guarantor irrevocably authorizes and directs the Process Agent to
accept such service on its behalf. As an alternate method of service, Guarantor consents to the service of copies of the summons and complaint and any other process which may be served in any such
action or proceeding by the mailing or delivering of a copy of such process to Licensor at its address specified in or pursuant to 2btion 14 of the License Agreement. Guarantor agrees that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

        5.    This
Agreement and the legal relations among the parties shall be governed by and construed in accordance with the laws of the State of California applicable to contracts
between California parties made and performed in that State, without regard to conflict of laws principles. 

22

 

        6.    Guarantor
agrees that its obligations hereunder (the "Obligations") are irrevocable, absolute, independent, unconditional and continuing, and shall not be subject to any
limitation, impairment or discharge for any reason, including any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than indefeasible performance in full of
the Obligations. Guarantor hereby waives notice of acceptance of this guaranty, presentments, notices of default, nonpayment, partial payments and protest, all other notices or formalities, any right
to require pro2bution of collection or remedies against Licensor or any other person or entity or to pursue any other remedy in Licensee's power. Without limiting the generality of any other waiver or
provision set forth herein, Guarantor hereby waives, to the maximum extent such waiver is permitted by law, any and all defenses arising directly or indirectly under any one or more of California
Civil Code §§ 2808, 2809, 2810, 2815, 2819, 2839, 2849, 2850, 2899 and 3433. Guarantor agrees that one or more, and successive and/or concurrent, actions may be brought against
it, either in the same action in which Licensor or any other person is sued on in separate actions and that the cessation of the liability of Licensor for any reason, other than full payment and
performance of the obligations, shall not in any way affect the liability of the undersigned hereunder. 

The
rights, powers and remedies given to Licensee by this Guaranty are cumulative and shall be in addition to and independent of all rights, powers and remedies given to Licensee by virtue of any
statute or rule of law or in the license agreement. Any forbearance or failure to exercise, or any delay by Licensee in exercising, any right, power or remedy hereunder shall not impair any such
right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any such right, power or remedy. 

In
case any provision in or Obligation under this Guaranty shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or
Obligations, or of such provision or Obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

This
Guaranty is a continuing guaranty and shall be binding upon Guarantor and its successors and assigns. This Guaranty shall inure to the benefit of Licensee and its successors and assigns. 

To
the extent Guarantor is guaranteeing payment obligations of Licensor under the terms of the License Agreement ("Payment Obligations"), this guaranty is a guaranty of payment when due and not of
collectibility. Licensee may from time to time, without notice or demand and without affecting the validity or enforceability of this Guaranty or giving rise to any limitation, impairment or discharge
of Guarantor's liability hereunder, (i) settle, compromise, release or discharge, or accept or refuse any offer of performance with respect to, or substitutions for, the obligations of Licensor
or any agreement relating thereto; (ii) have stayed or enjoined, by order of court, by operation of law or otherwise, the exercise or enforcement of, any claim or demand or any right, power or
remedy with respect to the obligations of Licensor or any agreement relating thereto; (iii) waive, amend or modify, or consent to departure from, any of the terms or provisions of the License
Agreement; and (iv) omit or delay in doing any act or thing, which may or might in any manner or to any extent vary the risk of Guarantor as an obligor in respect of the obligations. 

Guarantor
hereby waives, for the benefit of the Licensee: (i) any defense arising by reason of the incapacity or lack of authority of Licensor; (ii) any defense based upon any statute or
rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; and (iii) any principles or
provisions of law, statutory or otherwise, which are or might be in conflict with the terms of this Guaranty and any legal or equitable discharge of Guarantor's obligations hereunder. 

23

 

Until
any Payment Obligations shall have been paid in full, Guarantor shall withhold exercise of any right of subrogation. Guarantor further agrees that, to the extent the withholding of its rights of
subrogation as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation Guarantor may have against Licensor shall be junior and
subordinate to any rights Licensee may have against Licensor. 

In
the event that all or any portion of any Payment Obligations are paid by Licensor, the obligations of Guarantor hereunder shall continue and remain in full force and effect or be reinstated, as the
case may be, in the event that all or any part of such payment(s) are rescinded or recovered directly or indirectly from Licensee as a preference, fraudulent transfer or otherwise, and any such
payments which are so rescinded or recovered shall constitute Payment Obligations for all purposes under this Guaranty. 

        7.    Guarantor
shall not be liable for or suffer any penalty or termination of rights hereunder by reason of any failure or delay in performing any of its obligations
hereunder if such failure or delay is occasioned by compliance with governmental regulation or order, or by circumstances beyond the
reasonable control of Guarantor, including but not limited to acts of God, war, insurrection, fire, flood, accident, strike or other labor disturbance, interruption of or delay in transportation.
Guarantor shall promptly notify Licensee in writing of any such event of force majeure, the expected duration thereof, and its anticipated effect on Licensee and make reasonable efforts to remedy any
such event, except Guarantor shall be under no obligation to settle a labor dispute. 

	

DATED:	
 	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

GRUPO TELEVISA, S.A.
	

 	
 	

 	
 	

By:
	 	 	 	 	 	 	

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

Accepted and Agreed:	
 	

 	
 	

 	
 	

 
	

UNIVISION COMMUNICATIONS INC.	
 	

 	
 	

 	
 	

 
	

By:	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	 	 	 	 	 
	Its:	 	 	 	 	 	 	 	 
	 	 	
	 	 	 	 	 	 

24

 

Schedule 1  

 
 

NOTICES    
  

	 
	 	 
	 	 
	 	 

	 	 	(i)	 	If to Licensee:
	

 	
 	

 	
 	

 	
 	

1999 Avenue of the Stars, Suite 3050

Los Angeles, California 90067

Attn: Robert V. Cahill, Esq.

Telecopier: (310) 556-3568

25

QuickLinks

Exhibit 10.7

Exhibit A

Annex A

Annual Cap

GUARANTY

NOTICESQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.9    
  

 
 

AMENDED AND RESTATED INTERNATIONAL PROGRAM RIGHTS AGREEMENT    
  

        This AMENDED AND RESTATED INTERNATIONAL PROGRAM RIGHTS AGREEMENT is entered into as of December 19, 2001 and amends and restates the International Program
Rights Agreement dated October 2, 1996 by and between UNIVISION COMMUNICATIONS INC., a Delaware corporation ("UCI" and other entities directly or indirectly controlled by UCI hereinafter
referred to collectively as "Univision"), Grupo Televisa, S.A. ("Televisa") and Venevision International, Inc. ("Venevision"). 

        1.    Grandfathered Programs. 

        1.1  The parties hereto agree that with respect to each Grandfathered Program to which Univision has applicable rights
(i) Univision shall own in the United States and its territories and possessions, excluding Puerto Rico (the "Univision Territory") in perpetuity all rights of every kind and nature, including
without limitation all television, theatrical motion picture, live stage, merchandising, music, publication, sequel, remake, spin-off, ancillary and subsidiary rights, in and to such
Grandfathered Program and (ii) to the extent Univision has acquired the applicable rights in each applicable territory, Televisa shall own in Mexico (the "Televisa Territory"), Venevision shall
own in Venezuela (the "Venevision Territory"), and Televisa and Venevision shall each own an undivided interest in 100% of the remainder of the world outside the Univision Territory, Mexico and
Venezuela (the "Remainder Territory") in such respective percentages as Televisa and Venevision shall from time to time designate in a joint notice to Univision, corresponding rights and the
copyrights, renewals and extensions of copyrights in all such Grandfathered Programs for the period described in Section 1.2 below. Without limiting the generality of the foregoing, the holders
of the respective rights described above have the sole, exclusive and unencumbered right in their respective Territories to distribute, cut, edit, telecast, exhibit, sell, use, license and otherwise
exploit each Grandfathered Program and all rights therein in any medium, whether now known or hereafter devised, and in such manner and to the extent, if at all, as the party(ies) holding such rights
shall determine in its sole discretion. Notwithstanding the foregoing, a remake, sequel, prequel, spinoff or other derivative work (each, a "derivative work") based on a Grandfathered Program, shall
not be a Grandfathered Program hereunder unless such derivative work, if produced by Univision, by its own terms falls within the definition of a Grandfathered Program under this Agreement. Univision,
Televisa and Venevision shall execute or cause to be executed such further documents and instruments as any one thereof may reasonably request in order to effectuate the terms and intentions of this
Section 1.1. Subject to Section 6, Univision agrees to use commercially
reasonable efforts to obtain the rights in the Territories for all Grandfathered Programs and agrees to use good faith efforts not to structure agreements with respect to Grandfathered Programs in a
manner intended to cause such rights not to be available. The parties acknowledge that Univision has no rights in Chile to the Program "Sabado Gigante." 

        1.2  (a) At such time as the Televisa Program License is terminated, all rights in Grandfathered Programs granted to Televisa
pursuant to Section 1.1 above, shall revert to Univision, and subject to Section 11, Televisa shall have no further right to any Grandfathered Program under this Agreement. 

        (b)  At
such time as the Venevision Program License Agreement is terminated, all rights in Grandfathered Programs granted to Venevision pursuant to Section 1.1 above,
shall revert to Univision, and subject to Section 11, Venevision shall have no further right to any Grandfathered Program under this Agreement. 

        2.    New Programs. 

        2.1  The parties hereto agree that with respect to each New Program to which Univision has applicable rights
(i) subject to clause (ii) below, Univision shall own in perpetuity all worldwide rights of every kind and nature, including without limitation all television, theatrical motion picture,
live stage, merchandising, music, publication, sequel, remake, spin-off, ancillary and 

 

subsidiary rights, in and to such New Program and (ii) to the extent Univision has acquired the applicable rights in each applicable territory, (x) Televisa and Venevision shall have
the sole, exclusive and unencumbered right to Broadcast (as defined in the Program License Agreements) the New Program(s) in their respective Territories and the right to cut and edit such New
Program(s) for such Broadcast and (y) Televisa and Venevision shall have merchandising rights in such New Program(s) in their respective Territories. Univision, Televisa and Venevision shall
execute or cause to be executed such further documents and instruments as any one thereof may reasonably request in order to effectuate the terms and intentions of this Section 2.1. Subject to
Section 6, Univision agrees to use commercially reasonable efforts to obtain the rights in the Territories for all New Programs and agrees to use good faith efforts not to structure agreements
with respect to New Programs in a manner intended to cause such rights not to be available. 

        2.2  (a) At such time as Televisa and its Affiliates no longer own the Required Amount, all rights in New Programs granted to
Televisa pursuant to Section 2.1 above, shall revert to Univision, and subject to Section 11, Televisa shall have no further right to any New Program under this Agreement; provided
however, that if Televisa no longer owns the Required Amount as a result of UCI's consummation of any of the transactions referred to in Article III, Section 12(a)(i) or
(ii) of UCI's Amended and Restated Bylaws (as in effect on the date hereof), then at such time as the Televisa Program License is terminated, the rights granted to Televisa pursuant to
Section 2.1 above shall revert to Univision, and subject to Section 11, Televisa shall have no further right to any New Program under this Agreement. 

        (b)  At
such time as the Cisneros Brothers and their Permitted Transferees (as defined in UCI's Restated Certificate of Incorporation) no longer own the Required Amount, all
rights in New Programs granted to Venevision pursuant to Section 2.1 above, shall revert to Univision, and subject to Section 11, Venevision shall have no further right to any New
Program under this Agreement; provided however, that if Cisneros Brothers and their Affiliates no longer owns the Required Amount as a result of UCI's consummation of any of the transactions referred
to in Article III, Section 12(a)(i) or (ii) of UCI's Amended and Restated Bylaws (as in effect on the date hereof), then at such time as the Venevision Program License is
terminated, the rights granted to Venevision pursuant to Section 2.1 above shall revert to Univision, and subject to Section 11, Venevision shall have no further right to any New Program
under this Agreement. 

        3.    Univision Rights.    Univision and its Affiliates shall have the
right and ability to, and to permit others to: (i) transmit or retransmit via satellite which receives its signal from any earth station or other facility in the Univision Territory to any
television station in or cable system serving the Univision Territory, any Programs which may also be covered by this Agreement, notwithstanding the fact that such transmissions or retransmissions may
be incidentally viewed in Territories other than the Univision Territory ("Other Territories"); (ii) transmit or retransmit from any television station located in the United States any Programs
which may also be covered by this Agreement, notwithstanding the fact that such transmissions or re-transmissions may be incidentally viewed in Other Territories; (iii) transmit via
satellite to any direct-to-home subscribers located in the Univision Territory, any Programs which may also be covered by this Agreement, notwithstanding the fact that such
transmissions may be intercepted by unauthorized recipients in the Other Territories, and (iv) transmit via the Internet (x) Univision's national network evening news broadcast,
(y) religious service telecasts, and (z) charitable and non-commercial specials (e.g., telethons and presidential speeches). 

        Notwithstanding
the foregoing exceptions, neither Univision nor its Affiliates shall consent to, and each shall use its commercially reasonable efforts to prohibit, (A) the
transmission or retransmission of such Programs by (x) any television station in any Other Territory, (y) any cable system in any Other Territory that is located beyond 35 miles from the
community of license of any transmitting television station in the United States transmitting the Programs (any such cable transmission or re-transmission 

2

 

within such 35 mile limit being hereby expressly permitted) or (z) any other means of broadcasting in or into any Other Territory, and (B) the sale of any
direct-to-home or similar services, or any mechanical device, authorization code or other access devices, to persons located outside the Univision Territory for the purpose of
receiving Programs in contravention of this Section 3. 

        To
the extent that Univision has the right to transmit or retransmit under clause (ii) and (iv) above, Univision shall have the right to market and promote and otherwise
generate revenues (including, but
not limited to, the sale of advertising time) attributable to the ability of viewers in the any Other Territory to receive Programs contained in such transmissions. The parties acknowledge and agree
that this Section 3 is intended solely to insure that Univision will not be in violation of this Agreement merely because transmissions or retransmissions from stations located in the Univision
Territory or transmissions or retransmissions from satellite signals intended for television stations, cable systems or direct-to-home subscribers in the Univision Territory,
and over the Internet as provided above, may be incidentally viewed by unauthorized recipients in Other Territories, and is not intended to give Univision any right to broadcast, or license others to
broadcast, Programs intended for viewing or which may be viewed in the Territories other than the Univision Territory other than in accordance with the other provisions of this Agreement. 

        4.    Other Networks    (a) If Univision or any Affiliate of Univision forms any
network (an "Other Network") other than the Univision Network or the Galavision Network, subject to the provisions of this Section 4 and Section 5.2 below, neither Televisa nor
Venevision shall have any rights in or to any program produced or acquired by Univision for any Other Network in accordance with the terms of this Agreement. 

        (b)  Neither
Univision nor any Affiliate of Univision shall be entitled to air any Grandfathered Program, New Program or Designated Special, or any remake, sequel, prequel or
spinoff (as those terms are customarily defined in the television broadcast industry) of any Grandfathered Program, New Program or Designated Special on any Other Network without the consent of
Televisa and Venevision. 

        (c)  Univision
shall not be entitled to air any program on the Univision Network (as defined in the Televisa Program License Agreement and Venevision Program License
Agreement) or the Galavision Network (as defined in the Televisa Program License Agreement and Venevision Program License Agreement) (i) that has previously been aired on any Other Network and
(ii) for which broadcast rights have been licensed by Univision to a third party in either Mexico or Venezuela without the consent of Televisa or Venevision, respectively. 

        5.    Rights of First Negotiation and Offer. 

        5.1  If Univision or any Affiliate of Univision wishes to engage a third party distributor to distribute Programs in which
Univision has rights in any Territory other than in the Univision Territory, Univision will first offer to Televisa and Venevision a joint right of first negotiation to act as distributor for
Univision in such Territories. If Televisa and Venevision wish to negotiate with Univision to act as distributor to Univision, Univision, Televisa and Venevision will negotiate in good faith for a
period of 30 days to reach agreement on the terms of a distribution arrangement. If Univision, Televisa and Venevision cannot reach agreement on the terms of a distribution arrangement within
such 30 day period, Univision shall be free to enter into a distribution arrangement with a third party distributor on terms no less favorable to Univision than those offered by Televisa and
Venevision. 

        5.2  If Univision wishes to license or broadcast any program not broadcast on the Univision Network or the Galavision Network
in Mexico or Venezuela, Univision will first offer to Televisa and/or Venevision, as applicable, a right of first offer to license such program in Mexico or Venezuela, as the case may be. Televisa and
Venevision will have a period of 10 business days to make an offer with 

3

 

respect to the license of such program. If Univision does not wish to accept such offer, Univision shall be free to license such program to a third party for broadcast in Mexico or Venezuela on terms
no less favorable to Univision than those offered by Televisa or Venevision; or Univision may itself broadcast such program in Mexico or Venezuela, as applicable. Notwithstanding the foregoing, if
Univision or any Affiliate of Univision wishes to license or broadcast a program that has aired on the Telefutura Network and after compliance with the right of first offer described above, Univision
and Televisa or Venevision, as applicable, cannot reach agreement on a license for Mexico or Venezuela, as applicable, Univision will not license or broadcast such program to a third party for
broadcast or itself broadcast in Mexico or Venezuela, as applicable. 

        6.    Cost Obligations.    To the extent any costs are incurred or
payment or clearances are required with respect to the exploitation of any Program in any the Remainder Territory, the Televisa Territory or the Venevision Territory, including, but not limited to,
residual or royalty obligations and participations, the party or parties having the rights to exploit such Program in such Territory shall be responsible for all such costs, payments or clearances, as
applicable. Notwithstanding the generality of the foregoing, Univision shall not have the ability to commit Televisa or Venevision to any of the foregoing costs, payments or clearances with respect to
any Program unless (i) Televisa or Venevision, as the case may be, gives prior approval or (ii) Televisa or Venevision, as the case may be, airs or licenses such Program. 

        7.    Internet.    

        7.1  Notwithstanding anything to the contrary contained in this Agreement, for a period of five (5) years from the date
hereof, except to the extent permitted by Sections 7.2 and 7.3 below, and after the fifth anniversary of the date hereof, except to the extent permitted by Section 7.4 below, and except to the
extent, if any, otherwise permitted by this Agreement (i) neither Televisa or Venevision may broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit, any Program or
any portion thereof over or by means of the internet, or similar systems, now existing or hereafter developed ("Internet") and (ii) Univision may not broadcast or otherwise transmit, or permit
others to broadcast or otherwise transmit any Programs covered by this Agreement (or any portion thereof) over or by means of the Internet. 

        7.2  Univision shall have the right to broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit,
over the Internet "clips" from Programs covered by this Agreement and Televisa and Venevision shall have the right to broadcast or otherwise transmit, or permit others to broadcast or otherwise
transmit, over the Internet "clips" from Grandfathered Programs covered by this Agreement, in each case so long as (i) in the case of novelas, clips from any episode of a Program may not exceed
30 seconds in the aggregate in duration and no clips may be used which are from any of the last 5 chapters of any such novela or from any portion of any episode that reveals the resolution of any plot
or conflict, (ii) in the case of programs (other than novelas and sports events), clips from any episode of
a Program may not exceed 60 seconds in the aggregate in duration and (iii) in the case of sports events, clips are (a) to be carried with at least a 5 minute delay from the live event
and (b) limited to highlights of such event of not more than 2 minutes per highlight clip and 10 minutes in the aggregate. 

        7.3  To the extent appropriate technology exists or is hereafter developed so that video images through a streaming media or
other similar application (hereinafter "streaming video") can be sold through the Internet on a subscription basis, then Univision may exploit, or permit others to exploit, in the Territory the sale
of Univision Programs selected by Univision (all such programs being referred to as "Univision Internet Content") via the Internet on a subscription basis only; provided that Univision or such other
person uses commercially reasonable efforts to prohibit reception of such Univision Internet Content outside the Territory. 

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        7.4  After the fifth anniversary of the date hereof, unless the parties otherwise agree, for the purposes of determining the
rights of Univision and its Affiliates with respect to the Internet, Section 3 of this Agreement shall revert to the provisions of Section 3 as in effect immediately prior to the date
hereof as set forth on Exhibit A hereto, and no presumption shall be implied or created by the modification to Section 3 as of the date hereof, or the agreements and transactions entered
into by Univision, Televisa and Venevision and their respective Affiliates as of the date hereof, it being acknowledged and agreed that the parties disagree as to the rights of Univision and its
Affiliates under Section 3 as in effect prior to the date hereof and the parties and their respective Affiliates reserve all rights. 

        8.    Definitions.    

        "Affiliates"
of a person means any person that directly or indirectly controls, is controlled by, or is under common control with the person in question. For the purposes of this
definition, "control", when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise. 

        "Broadcast
Period" means (i) for novelas or other Programs with a plot line continuing through more than one episode, the time necessary to broadcast all episodes on a continuing
basis without substantial interruption and (ii) for all other programs (excluding one-program shows), (x) for weekly programs, the time period necessary to broadcast 26
episodes of the Program without substantial interruption, which under normal circumstances is expected to be 26 continuous weeks and (y) for daily programs (Monday through Friday), 26 weeks. 

        "Designated
Specials" means the specials set forth on Schedule 1 hereto (to the extent and frequency described on such schedule), and if such specials are not produced on the
frequency set forth on Schedule 1, such other specials having the same format, theme and frequency as the specials not so
produced. Univision agrees to determine the frequency of specials in the ordinary course and use good faith in determining Designated Specials. 

        "Existing
Programs" means all Programs being produced by Univision as set forth on Schedule 1 hereto. 

        "Grandfathered
Programs" means all Existing Programs, all Replacement Programs and all Designated Specials. 

        "New
Programs" means all Programs other than Grandfathered Programs. 

        "Program
License Agreements" means the Televisa Program License Agreement and the Venevision Program License Agreement. 

        "Programs"
means television programs initially produced in the Spanish language or programs with Spanish subtitles produced directly or indirectly by or for the Univision Network or the
Galavision Network and to be produced directly or indirectly by or for the Univision Network or the Galavision Network for broadcast at any time and which are available for broadcast and to which the
Univision Network or the Galavision Network has the rights to Broadcast in an applicable Territory including, without limitation, in the following categories: novelas, musicals, variety shows,
situation comedies, game shows, talk shows, children's shows, news shows, cultural and educational programs, and sports programs. Programs do not include programs acquired by Univision from Televisa
or Venevision. 

        "Replacement
Program" means any Program that (A) shares at least two out of four of the following characteristics with an Existing Program or another Replacement Program (each, a
"Replaced Program") (i) it has a substantially similar format and theme to such Replaced Program, (ii) it shares a material amount of talent with such Replaced Program, (iii) it
is in the same day-part as such Replaced Program and (iv) it shares the same or a substantially similar name with such Replaced Program; and 

5

 

(B) commences broadcast on Univision Network or Galavision Network within six months prior to or within six months after the termination of broadcast of such Replaced Program on such network.
A special will only be required to comply with clause (A) above. 

        "Required
Amount" in the case of Televisa and Venevision shall have the meaning given to such term in the Restated Certificate of Incorporation of Univision Communications Inc. 

        "Telefutura
Network" means the Telefutura Network of affiliated broadcast stations, cable outlets and other affiliated broadcast outlets broadcasting the Telefutura Network. 

        "Televisa
Program License Agreement" means that certain Second Amended and Restated Program License Agreement between Televisa International, S.A. de C.V. and UCI (as successor to The
Univision Network Limited Partnership) dated as of the date hereof, as it may be amended from time to time. 

        "Territories"
means the Univision Territory, the Televisa Territory, the Venevision Territory and the Remainder Territory. 

        "Venevision
Program License Agreement" means that certain Second Amended and Restated Program License Agreement between Venevision International Inc. (as successor to Dennevar,
B.V.), and UCI (as successor to The Univision Network Limited Partnership) dated as of the date hereof, as it may be amended from time to time. 

        "without
substantial interruption" means that the Programs will be scheduled and run on a continuing periodic basis except for occasional network preemption to accommodate
one-time specials or programs which, because of their nature or timeliness or because of applicable rules, must in a person's reasonable judgment be broadcast in lieu of the regularly
scheduled Program. 

        9.    Representations and Warranties of Univision. 

        9.1  To the extent Univision is granting rights hereunder, Univision hereby agrees, warrants and represents as follows: 

        (a)  Univision
has or will have the right to grant to Televisa and Venevision the rights to the Programs in the applicable Territories set forth in this Agreement, including
but not limited to the necessary literary, artistic, technological and intellectual property rights and has secured or will secure all necessary written consents, permissions and approvals for
incorporation into such Programs of the names, trademarks, likenesses and/or biographies of all persons, firms, products, companies and organizations depicted or displayed in such Programs, and any
preexisting film or video footage produced by third parties; 

        (b)  There
are no and will not be any pending claims, liens, charges, restrictions or encumbrances on the Programs that conflict with the rights granted hereunder to such
Programs in the applicable Territories; 

        (c)  The
main and end titles of the Programs and all publicity, promotion, advertising and packaging information and materials supplied by Univision will (i) contain
all necessary and proper credits for the actors, directors, writers and all other persons appearing in or connected with the production of such Programs who are entitled to receive credit and
(ii) comply with all applicable contractual, guild, union and statutory requirements and agreements; 

        (d)  The
broadcast of Programs in the applicable Territories will not infringe on the rights of any third party, (including but not limited to copyright, patent, trademark,
unfair competition, contract, property, defamation, privacy, publicity or "moral rights" (to the extent such moral rights are recognized by United States law)); 

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        (e)  Except
to the extent expressly permitted by this Agreement, Univision has not and will not grant or license to others, and will not itself exercise, any rights to
broadcast the Programs in the applicable Territories; and 

        (f)    All
Programs (and elements thereof) will be delivered as reasonably agreed to by the parties in a manner consistent with customary practice. 

        10.  Indemnification. 

        (a)  Univision
agrees to hold Televisa and Venevision and their respective directors, officers, employees, agents and shareholders (collectively the "Televisa and Venevision
Indemnitees") harmless, from any claims, deficiencies, assessments, liabilities, losses, damages, expenses (including, without limitation, reasonable fees and expenses of counsel) (collectively,
"Losses") which any Televisa or Venevision Indemnitee may suffer by reason of Univision's breach of, or non-compliance with, any covenant or provision herein contained or the inaccuracy of
any warranty or representation made in this Agreement and any such damages shall be reduced by: (i) the amount of any net tax benefit ultimately accruing to such Televisa or Venevision
Indemnitee on account of such Televisa or Venevision Indemnitee's payment of such claim; (ii) insurance proceeds which such Televisa or Venevision Indemnitee has or will receive in connection
with such claim, and (iii) any recovery from third parties in connection with such claim; provided, however, that Univision shall not delay
payment of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if such Televisa or Venevision Indemnitee provides Univision with an
undertaking to reimburse Univision for the amount of any such claim ultimately received; and provided, further, that no Televisa or Venevision
Indemnitee shall have any obligation to obtain any such insurance proceeds or recovery from third parties if and to the extent Univision is subrogated (in form and substance satisfactory to Univision)
to such Televisa or Venevision Indemnitee's claims in respect of such insurance or third parties. 

        (b)  Televisa
and Venevision agree to indemnify Univision, its direct and indirect partners or shareholders and all officers, directors, employees and agents of any of the
foregoing (the "Univision Indemnitees") against and hold the Univision Indemnitees harmless from any and all Losses incurred or suffered by any Univision Indemnitee arising out of any program or
commercial material (apart from the Programs) furnished by such person and any such damages shall be reduced by: (i) the amount of any net tax benefit ultimately accruing to such Univision
Indemnitee on account of such Univision Indemnitee's payment of such claim; (ii) insurance proceeds which such Univision Indemnitee has or will receive in connection with such claim, and
(iii) any recovery from third parties in connection with such claim; provided, however, that neither Televisa nor Venevision shall delay payment
of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if such Univision Indemnitee provides Televisa or Venevision, as the case may be,
with an undertaking to reimburse Televisa or Venevision, as the case may be, for the amount of any such claim ultimately received; and provided,
further, that such Univision Indemnitee shall have no obligation to obtain any such insurance proceeds or recovery from third parties if and to the extent Televisa or
Venevision is subrogated (in form and substance satisfactory to Televisa or Venevision) to such Univision Indemnitee's claims in respect of such insurance or third parties. 

        (c)  The
following procedures shall govern all claims for indemnification made under any provision of this Agreement. A written notice (an "Indemnification Notice") with
respect to any claim for indemnification shall be given by the party seeking indemnification (the "Indemnitee") to the party from which indemnification is sought (the "Indemnitor") within thirty
(30) days of the discovery by the Indemnitee of such claim, which Indemnification 

7

 

Notice shall set forth the facts relating to such claim then known to the Indemnitee (provided that failure to give such Indemnification Notice as aforesaid shall not release the Indemnitor from its
indemnification obligations hereunder unless and to the extent the Indemnitor has been prejudiced thereby). The party receiving an Indemnification Notice shall send a written response to the party
seeking indemnification stating whether it agrees with or rejects such claim in whole or in part. Failure to give such response within ninety (90) days after receipt of the Indemnification
Notice shall be conclusively deemed to constitute acknowledgment of the validity of such claim. If any such claim shall arise by reason of any claim made by third parties, the Indemnitor shall have
the right, upon written notice to Indemnitee within thirty (30) days after receipt of the Indemnification Notice, to assume the defense of the matter giving rise to the claim for
indemnification through counsel of its selection reasonably acceptable to Indemnitee, at Indemnitor's expense, and the Indemnitee shall have the right, at its own expense, to employ counsel to
represent it; provided, however, that if any action shall include both the Indemnitor and the Indemnitee and there is a conflict of interest because of
the availability of different or additional defenses to the Indemnitee, the Indemnitee shall have the right to select separate counsel to participate in the defense of such action on its behalf, at
the Indemnitor's expense. The Indemnitee shall cooperate fully to make available to the Indemnitor all pertinent information under the Indemnitee's control as to the claim and shall make appropriate
personnel available for any discovery, trial or appeal. If the Indemnitor does not elect to undertake the defense as set forth above, the Indemnitee shall have the right to assume the defense of such
matter on behalf of and for the account of the Indemnitor; provided, however, the Indemnitee shall not settle or compromise any claim without the
consent of the Indemnitor, which consent shall not be unreasonably withheld. The Indemnitor may settle any claim at any time at its expense, so long as such settlement includes as an unconditional
term thereof the giving by the claimant of a release of the Indemnitee from all liability with respect to such claim. 

        11.    Term.    Subject to Sections 1.2 and 2.2, the term of this Agreement shall be until
December 17, 2017. Any license in effect for any Program at the date of termination of this Agreement (or the termination of any rights under this Agreement) shall continue through the
Broadcast Period for such Program, with no right of re-license or extension at the end thereof and all of the rights and obligations of the parties under this Agreement with respect to
such license will continue through the Broadcast Period for such Program, it being agreed that the parties shall enter into mutually satisfactory royalty arrangements with respect to the Broadcast
Period following the termination of this Agreement in order to compensate Univision for the use of Programs during such period and, if the parties are unable to agree upon such royalty arrangements,
the amount thereof shall be determined based on prevailing market conditions. 

        In
addition this Agreement may be terminated by Univision with respect to Televisa or Venevision, as the case may be, if Televisa or Venevision, as the case may be (i) materially
breaches its obligations hereunder and fails to cure such breach within 180 days of notice thereof by the party seeking termination (which notice shall describe the breach in reasonable
detail); or (ii) asserts a Force Majeure Event under Section 12 as a relief from substantially all of its obligations hereunder for a period in excess of one year and this Agreement may
be terminated by Televisa and Venevision with respect to Univision, if Univision (i) materially breaches its obligations hereunder and fails to cure such breach within 180 days of notice
thereof by the party seeking termination (which notice shall describe the breach in reasonable detail); or (ii) asserts a Force Majeure Event under Section 12 as a relief from
substantially all of its obligations hereunder for a period in excess of one year. 

        12.    Force Majeure.    No party hereto shall be liable for or suffer any penalty or
termination of rights hereunder by reason of any failure or delay in performing any of its obligations hereunder if such failure or delay is occasioned by compliance with governmental regulation or
order, or by circumstances 

8

 

beyond the reasonable control of the party so failing or delaying, including but not limited to acts of God, war, insurrection, fire, flood, accident, strike or other labor disturbance, interruption
of or delay in transportation (a "Force Majeure Event"). Each party shall promptly notify the others in writing of any such Force Majeure Event, the expected duration thereof, and its anticipated
effect on the party affected and make reasonable efforts to remedy any such event, except that no party shall be under any obligation to settle a labor dispute. 

        13.    Modification.    This Agreement shall not be modified or waived in whole or in part
except in writing signed by an officer of the party to be bound by such modification or waiver. 

        14.    Waiver of Breach.    A waiver by one party of any breach or default by another party
shall not be construed as a waiver of any other breach or default whether or not similar and whether or not occurring before or after the subject breach. 

        15.    Jurisdiction; Venue; Service of Process.    Each of the parties irrevocably submits to
the jurisdiction of any California State or United States Federal court sitting in Los Angeles County in any action or proceeding arising out of our relating to this Agreement or the transactions
contemplated hereby, and irrevocably agrees that any such action or proceeding may be heard and determined only in such California State or Federal court. Each of the parties irrevocably waives, to
the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding. Each of the parties irrevocably appoints CT Corporation System
(the "Process Agent"), with an office on the date hereof at 818 West 7th Street, Los Angeles, CA, 90017 as his or its agent to receive on behalf of him or it and his or its property service of copies
of the summons and complaint and any other process which may be served in any such action or proceeding. Such service may be made by delivering a copy of such process to any of the parties in care of
the Process Agent at the Process Agent's above address, and each of the parties irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternate method of
service, each of the parties consents to the service of copies of the summons and complaint and any other process which may be served in any such action or proceeding by the mailing or delivering of a
copy of such process to such party at its address specified in or pursuant to Section 16. Each of the parties agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

        16.    Notices.    All notices and other communications required or permitted hereunder shall
be in writing, shall be deemed duly given upon actual receipt, and shall be delivered (a) in person, (b) by registered or certified mail (air mail if addressed to an address outside of
the country in which mailed), postage prepaid, return receipt requested, (c) by a generally recognized overnight courier service which provides written acknowledgment by the addressee of
receipt, or (d) by facsimile or other generally accepted means of electronic transmission (provided that a copy of any notice delivered pursuant to this clause (d) shall also be sent
pursuant to clause (b)), addressed as set forth on Schedule 1 or to such other addresses as may be specified by like notice to the other parties. 

        17.    Assignments.    Any party may assign its rights hereunder and delegate its duties
hereunder, in whole or in part, to an Affiliate able to perform the assignor's obligations hereunder, and any party may assign its rights hereunder and delegate its duties hereunder to any person or
entity to which all or substantially all of such party's businesses and assets are pledged or transferred. No such assignment or delegation shall relieve any party of its obligations hereunder. Any
such assignment or delegation authorized pursuant to this Section 17 shall be pursuant to a written agreement in form and substance reasonably satisfactory to the parties. Except as otherwise
expressly provided herein, neither this Agreement nor any rights, duties or obligations hereunder may be assigned or delegated by any of the parties, in whole or in part, whether voluntarily, by
operation of law or otherwise. Any attempted assignment or delegation in violation of this prohibition shall be null and void. Subject to the foregoing, all of the terms and provisions hereof shall be
binding upon, and inure to the benefit of, the successors 

9

 

and assigns of the parties. Nothing contained herein, express or implied, is intended to confer on any person other than the parties or their respective successors and permitted assigns, any rights,
remedies, obligations or liabilities under or by reason of this Agreement. Pursuant to the financing documents relating to financing to UCI, the Administrative Agent (for the benefit of the various
lenders) has been granted a security interest in and to all of UCI's rights in this Agreement. The parties hereto acknowledge and consent to the grant of such security interest. 

        18.    Governing Law.    This Agreement and the legal relations among the parties shall be
governed by and construed in accordance with the laws of the State of California applicable to contracts between California parties made and performed in that State, without regard to conflict of laws
principles. 

        19.    Further Assurances.    Each party hereto agrees to execute any and all additional
documents and do all things and perform all acts necessary or proper to further effectuate or evidence this Agreement including any required filings with the United States Copyright Office. 

        20.    Counterparts.    This Agreement may be executed in counterparts, each of which shall be
an original instrument and all of which, when taken together, shall constitute one and the same agreement. 

        21.    Severability.    If any provision of this Agreement, or the application thereof, shall
for any reason or to any extent be invalid or unenforceable, then the remainder of this Agreement and application of such provision to other persons or circumstances shall continue in full force and
effect and in no way be affected, impaired or invalidated; provided that the aggregate of all such provisions found to be invalid or unenforceable does not materially affect the benefits and
obligations of the parties of the Agreement taken as a whole. 

        22.    Specific Performance.    The parties hereto agree that irreparable damage may occur in
the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties may be entitled
to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction
pursuant to Section 15, this being in addition to any other remedy to which they are entitled at law or in equity. 

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

	 	 	UNIVISION COMMUNICATIONS INC.
	

 	
 	

By:	
 	

/s/  C. DOUGLAS KRANWINKLE      
	 	 	 	 	

	

 	
 	

Title:	
 	

EVP
	 	 	 	 	

	

 	
 	
GRUPO TELEVISA, S.A.
	

 	
 	

By:	
 	

/s/  JORGE LUTTEROTH      
	 	 	 	 	

	

 	
 	

Title:	
 	

Attorney in Fact
	 	 	 	 	

	

 	
 	

By:	
 	

/s/  MA. AZUCENA DOMINGUEZ      
	 	 	 	 	

	

 	
 	

Title:	
 	

Attorney in Fact
	 	 	 	 	

	

 	
 	

By:	
 	

/s/  JUAN MIJARES      
	 	 	 	 	

	

 	
 	

Title:	
 	

Attorney in Fact
	 	 	 	 	

	

 	
 	
VENEVISION INTERNATIONAL, INC.
	

 	
 	

By:	
 	

/s/  ALEJANDRO RIVERA      
	 	 	 	 	

	

 	
 	

Title:	
 	

Vice President
	 	 	 	 	

11

QuickLinks

Exhibit 10.9

AMENDED AND RESTATED INTERNATIONAL PROGRAM RIGHTS AGREEMENT

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