UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~February~~March 1912, 2009

UNIVISION COMMUNICATIONS INC.

(Exact name of registrant as specified in charter)

Delaware

(State or Other Jurisdiction of Incorporation)

001-12223

(Commission File Number)

95-4398884

(IRS Employer Identification No.)

605 Third Avenue, 12^th Floor

New York, NY 10158

(Address of principal executive offices)

(212) 455-5200

(Registrant’s telephone number, including area code)

NO CHANGE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

(d) Effective February 19, 2009, David Trujillo, a Founding Partner of TPG Capital (“TPG”), replaced Karl Peterson, as one of the directors of Univision Communications Inc. (the “Company”) designated by TPG. Mr. Trujillo was also appointed to the Audit Committee effective February 19, 2009.

TPG holds more than a 5% equity interest in the Company’s parent companies, Broadcasting Media Partners, Inc. and Broadcast Media Partners Holdings, Inc. During the year ended December 31, 2008, the Company paid each of Avaya Inc. and TXU Corporation, an aggregate of $0.4 million, and received from each of Altel Corporation and Burger King Corporation, an aggregate of $17.2 million. TPG has a more than 10% equity interest in each of these companies.

ITEM 8.01.

Other Events.

AtOn March 12, ~~the~~2009, ~~instance~~Univision ofCommunications Inc. (the ~~judge~~“Company”), made a permitted election under the ~~Company~~ ~~and~~indenture ~~Grupo~~governing ~~Televisa~~its S$1.A5 billion aggregate principal amount of 9.75%/10.50% ~~agreed~~senior notes due 2015 (the “Notes”) to pay all interest under the Notes for the interest period commencing on ~~February~~March 2415, 2009 and continuing through September 14, to2009, ~~continue~~entirely in kind (“PIK Interest”). The Company may make an election before the ~~commencement~~beginning of ~~the~~each interest ~~trial~~period ~~from~~through March 315, ~~2009~~2012, whether to ~~April 21,~~pay ~~2009~~interest on the ~~remaining~~Notes ~~Internet~~entirely ~~issues~~in ~~that~~cash, ~~were~~entirely ~~not~~through ~~part~~PIK ofInterest, ~~the~~or ~~settlement~~half ~~and~~in ~~release~~cash ~~described~~and half in PIK Interest. In the absence of such an election for any interest period, interest on the Notes will be payable in the form of the interest payment for the prior interest period. As a result, the entirely PIK Interest election will apply for future interest periods unless the Company’s ~~Current~~elects ~~Report~~otherwise. onThe ~~Form~~Company ~~8-K~~has ~~filed~~elected to pay PIK Interest in the amount of approximately $79 million for the interest period commencing on ~~January~~March 2715, 2009 (to enhance liquidity in light of the ~~“Form 8-K”)~~current uncertainty in the financial markets. The Company will evaluate this option prior to the beginning of each eligible interest period, taking into account market conditions and other relevant factors at that time.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits

Explanatory Note:

The Third Amended and Restated Program License Agreement filed with the Form 8-K inadvertently included an incorrect page 19 that contained an immaterial error. Attached is the corrected version.

ExhibitNumber		Description
10.1		Third Amended and Restated Program License Agreement dated as of January 22, 2009 between Televisa, SA, de C.V. and Univision Communications Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		UNIVISION COMMUNICATIONS INC. (Registrant)
		UNIVISION COMMUNICATIONS INC.
Date: February 27, 2009		By:	/S/ PETER H. LORI
		(Registrant)
			Peter H. Lori
	By:	/s/ PETER H. LORI
			Senior Vice President and Chief Accounting Officer
Date: March 12, 2009		Peter H. Lori
		Senior Vice President and Chief Accounting Officer

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