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FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB Approval
-------- WASHINGTON, D.C. 20549 ---------------------------
OMB Number: 3235-0287
[X] Check this box if no longer Expires: December 31, 2001
subject to Section 16. Form Estimated average burden
4 or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP hours per response......0.5
continue. See Instruction 1(b). ---------------------------
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting | 2. Issuer Name and Ticker or Trading Symbol | 6. Relationship of Reporting Person(s)
Person* | | to Issuer
| | (Check all applicable)
Cisneros Gustavo A. | Univision Communications Inc.("UVN") |
-------------------------------------------------------------------------------------------| _____ Director __X__ 10% Owner
(Last) (First) (Middle) | 3. I.R.S. Identification| 4. Statement for | _____ Office (give title below)
| Number of Reporting | Month/Year | _____ Other (specify below)
Quinta "La Canada" | Person, if an entity | |
Callejon Galipan, Calle El Parque | (Voluntary) | December 2000 |
---------------------------------------| |-------------------------|----------------------------------------
(Street) | | 5. If Amendment, |7. Individual or Joint/Group
| | Date of Original | (Check Applicable Line)
| | (Month/Year) |_x_ Form filed by One Reporting Person
| | |___ Form filed by More than One
Caracas, Venezuela | | | Reporting Person
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(City) (State) (Zip) | TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security |2. Transaction |3. Transaction |4. Securities Acquired(A) |5. Amount of |6. Owner-|7. Nature
(Instr. 3) | Date | Code | or Disposed of (D) | Securities | ship | of
| | (Instr. 8) | (Instr. 3, 4 and 5) | Beneficially| Form: | Indirect
| (Month/ | | | Owned at End| Direct | Bene-
| Day/ | --------------|--------------------------| of Month | (D) or | ficial
| Year) | | | Amount | (A) | Price | (Instr. 3 | Indirect| Owner-
| | Code | V | | or | | and 4) | (I) | ship
| | | | | (D) | | |(Instr.4)|(Instr.4)
---------------------------------------|---------------|-------|-------|---------|-----|----------|-------------|---------|---------
| | | | | | | |
| | | | | | | | |
| | | | | | | | |
| | | | | | | | |
| | | | | | | | |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION (Over)
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM Sec 1474 (3-99)
DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative |2. Conversion |3. Transaction |4. Transaction |5. Number of |6. Date Exer- |7. Title and Amount
Securities | or Exercise | Date | Code | Derivative | cisable and | of Underlying
(Instr. 3) | Price of | | (Instr. 8) | Securities | Expiration Date | Securities
| Derivative | (Month/Day/ | | Acquired (A) | (Month/Day/Year) | (Instr. 3 and 4)
| Security | Year) | | or Disposed | |
| | | | of (D) |----------------------------------------
| | | | (Instr. 3, | Date | Expir- | | Amount or
| | | | 4, and 5) | Exer- | ation | Title | Number of
| | |---------------|------------------| cisable | Date | | Shares
| | | Code | V | (A) | (D) | | | |
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Class V Convertible | 1-for-1 | 12/28/00 | J | | | 13,721,124| Immed. | None | Class A| 13,721,124
Common Stock (1) | | | | | | | | | Common |
| | | | | | | | | Stock |
| | | | | | | | | |
| | | | | | | | | |
-------------------------|--------------|---------------|-------|-------|------|-----------|---------|--------|--------|------------
Warrant (2) | $0.032195 | 12/28/00 | J | | | 27,437,700| (2) | None | Class A| (2)
| | | | | | | | | or |
| | | | | | | | | Class V|
| | | | | | | | | Common |
| | | | | | | | | Stock |
-------------------------|--------------|---------------|-------|-------|------|-----------|---------|--------|--------|------------
| | | | | | | | | |
-------------------------|--------------|---------------|-------|-------|------|-----------|---------|--------|--------|------------
| | | | | | | | | |
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8. Price of | 9. Number of | 10. Ownership | 11. Nature of |
Derivative| derivative | Form of | Indirect |
Security | Securities | Derivative | Beneficial|
(Instr. 5)| Beneficially| Security: | Ownership |
| Owned at End| Direct (D) or| (Instr. 4)|
| of Month | Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
-------------------------------------------------------------------|
| 13,721,124 | I | Held by |
| | | Venevision |
| | | Investments |
| | | LLC (3) |
| | | |
| | | |
--------------|----------------|-------------------|---------------|
| 27,437,700 | I | Held by |
| | | Venevision |
| | | Investments |
| | | LLC (3) |
--------------|----------------|-------------------|---------------|
| | | |
--------------|----------------|-------------------|---------------|
| | | |
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EXPLANATION OF RESPONSES:
(1) PURSUANT TO AN INTERNAL REORGANIZATION AMONG A GROUP OF ENTITIES OWNED BY TRUSTS ESTABLISHED BY THE REPORTING PERSON AND
RICARDO J. CISNEROS ("RJC"): (i) VENEVISION INTERNATIONAL LIMITED, A HOLDING COMPANY OWNED BY TRUSTS ESTABLISHED BY THE
REPORTING PERSON AND RJC, TRANSFERRED 13,109,684 SHARES OF CLASS V COMMON STOCK OF THE ISSUER ("CLASS V COMMON STOCK") AND
27,423,116 WARRANTS TO PURCHASE CLASS V COMMON STOCK ("WARRANTS") TO VENEVISION INVESTMENTS LLC ("VI"), A HOLDING COMPANY
BENEFICIALLY OWNED BY TRUSTS ESTABLISHED BY THE REPORTING PERSON AND RJC; (ii) 9,484 SHARES OF CLASS V COMMON STOCK AND
14,584 WARRANTS HELD BY TISDALE INTERNATIONAL MANAGEMENT, LTD., A HOLDING COMPANY OWNED BY TRUSTS ESTABLISHED BY THE
REPORTING PERSON AND RJC BENEFICIAL WERE TRANSFERRED TO VI; AND (iii) 601,956 SHARES OF CLASS V COMMON STOCK HELD BY
DENNEVAR B.V., A HOLDING COMPANY OWNED BY TRUSTS ESTABLISHED BY THE REPORTING PERSON AND RJC, WERE TRANSFERRED TO VI.
SUCH TRANSACTIONS DID NOT RESULT IN CHANGES TO OWNERSHIP OF THE INTERESTS APPLICABLE TO THE REPORTING PERSON IN THE SHARES
BEING REPORTED ON.
(2) EXERCISABLE IMMEDIATELY, TO THE EXTENT EXERCISE WOULD NOT VIOLATE THE COMMUNICATIONS ACT OF 1934.
(3) REPORTING PERSON HEREBY DISCLAIMS BENEFICIAL OWNERSHIP OF THE INTERESTS
APPLICABLE TO THE REPORTING PERSON IN THE SHARES BEING REPORTED ON.
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
By: /s/ Gustavo A. Cisneros January 10, 2001
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Signature of the Reporting Person
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED.
IF SPACE IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB NUMBER.
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