UNIVISION COMMUNICATIONS INC
EXHIBIT 10.36
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<TYPE>EX-10.36
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<FILENAME>a2052272zex-10_36.htm
<DESCRIPTION>EXHIBIT 10.36
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="ll1533_exhibit_10.36"> </A>
<A NAME="toc_ll1533_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT 10.36    <BR>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ll1533_first_amendment_to_stock_purchase_agreement"> </A>
<A NAME="toc_ll1533_2"> </A>
<BR></FONT><FONT SIZE=2><B>FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This First Amendment&nbsp;to Stock Purchase Agreement (this </FONT><FONT SIZE=2><B>"Amendment"</B></FONT><FONT SIZE=2>) is entered into as of May&nbsp;9,
2001, between Univision Communications&nbsp;Inc., a Delaware corporation (</FONT><FONT SIZE=2><B>"Buyer"</B></FONT><FONT SIZE=2>), and USA Broadcasting,&nbsp;Inc., a Delaware corporation
(</FONT><FONT SIZE=2><B>"Seller"</B></FONT><FONT SIZE=2>). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>R E C I T A L S  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Buyer and Seller entered into a Stock Purchase Agreement dated as of January&nbsp;17, 2001 (the </FONT> <FONT SIZE=2><B>"Agreement"</B></FONT><FONT SIZE=2>) for the purchase and sale of the stock of
certain Subsidiaries of Seller; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
Buyer and Seller desire to amend certain provisions of the Agreement; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
all capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such defined terms in the Agreement. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>A G R E E M E N T  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In consideration of the mutual promises contained herein and in the Agreement and intending to be legally bound the parties agree as follows: </FONT></P>

<P><FONT SIZE=2>1.&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Section&nbsp;4.10</I></FONT><FONT SIZE=2> of the Agreement is hereby amended in its entirety to state as follows: </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;"4.10</B></FONT><FONT SIZE=2><B><I>&nbsp;&nbsp;Exercise of KPST-TV Put Right.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;[Intentionally
Omitted.]" </FONT></P>

<P><FONT SIZE=2>2.&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Section&nbsp;4.11</I></FONT><FONT SIZE=2> of the Agreement is hereby amended in its entirety to state as follows: </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;"4.11</B></FONT><FONT SIZE=2><B><I>&nbsp;&nbsp;Exercise of KPST-TV Call Right.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;At
Buyer's request, Silver King Capital Corporation,&nbsp;Inc. (</FONT><FONT SIZE=2><B>"Silver King"</B></FONT><FONT SIZE=2>), the MI Subsidiary that owns the
minority interest in Golden Link TV,&nbsp;Inc. (f/k/a Channel 66 of Vallejo, California,&nbsp;Inc.) (</FONT><FONT SIZE=2><B>"Golden Link"</B></FONT><FONT SIZE=2>), the licensee of television
broadcast station KPST-TV, Vallejo, California (</FONT><FONT SIZE=2><B>"KPST"</B></FONT><FONT SIZE=2>), has exercised the call right held by Silver King to purchase the remaining interest
in Golden Link (the </FONT><FONT SIZE=2><B>"Majority KPST Interest"</B></FONT><FONT SIZE=2>) pursuant to the call provisions of that certain Shareholder Agreement dated April&nbsp;26, 1996, by and
among Golden Link, Whitehead Media of California,&nbsp;Inc., and Silver King (the </FONT><FONT SIZE=2><B>"KPST Shareholders Agreement"</B></FONT><FONT SIZE=2>). During the period prior to the
Initial Closing Date, Seller shall cause Silver King to comply with Silver King's obligations under the call provisions of the KPST Shareholders Agreement, and Buyer, Seller and Silver King shall
cooperate with each other in connection therewith. If the transfer of the Majority KPST Interest pursuant to the call provisions of the KPST Shareholders Agreement shall not have occurred prior to the
Initial Closing, then at the Initial Closing, Buyer shall assume responsibility for causing Silver King to purchase the Majority KPST Interest pursuant to the call provisions of the KPST Shareholders
Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If
the Initial Closing shall not have occurred prior to the date that Silver King is required to consummate the acquisition of the Majority KPST Interest pursuant
to the call provisions of the KPST Shareholders Agreement, then on or before such date (i)&nbsp;Seller shall cause Silver King to transfer all of its interest in television broadcast station
KTVJ(TV), Boulder, Colorado and television broadcast station WHSL(TV), East St. Louis, Missouri, and all other assets and liabilities of Silver King except the minority interest in KPST (including the
rights and obligations under the KPST Shareholders Agreement) to one of the other Subsidiaries to be acquired by Buyer under the Agreement and (ii)&nbsp;Buyer shall acquire from Seller all of the
capital stock of Silver King at the purchase price set forth in </FONT><FONT SIZE=2><B>Exhibit&nbsp;B</B></FONT><FONT SIZE=2> to the Agreement with respect to KPST and shall assume responsibility
for causing Silver King to purchase the Majority KPST Interest pursuant to the call provisions of the KPST Shareholders Agreement. If Silver King acquires the Majority KPST Interest pursuant to the
call provisions of the KPST Shareholders Agreement, then Seller </FONT></P>

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<P><FONT SIZE=2>
acknowledges and agrees that the affiliation agreement between Golden Link and HSN shall terminate at 12:01&nbsp;a.m. (Eastern time) on January&nbsp;14, 2002." </FONT></P>

</UL>

<P><FONT SIZE=2>3.&nbsp;&nbsp;Except
as expressly amended by this Agreement, all terms and conditions of the Agreement shall continue in full force and effect in accordance with their terms. </FONT></P>

<P><FONT SIZE=2>4.&nbsp;&nbsp;This
Amendment&nbsp;may be executed in one or more counterparts and by different parties in separate counterparts. All of such counterparts shall constitute one and the same
agreement and shall become effective when one or more counterparts have been signed by each party and delivered to the other party. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>IN WITNESS WHEREOF</B></FONT><FONT SIZE=2>, each of the parties hereto has caused this First Amendment&nbsp;to Stock Purchase Agreement to be executed by its
duly authorized officers as of the day and year first above written. </FONT></P>

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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=5><FONT SIZE=2><B>BUYER:</B></FONT></TD>
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<TD WIDTH="43%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD COLSPAN=5><BR><FONT SIZE=2><B>UNIVISION COMMUNICATIONS INC.</B></FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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<TD COLSPAN=3><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>ANDREW W. HOBSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Andrew W. Hobson</FONT></TD>
</TR>
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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Executive Vice President</FONT></TD>
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<TD COLSPAN=5><BR><FONT SIZE=2><B>SELLER:</B></FONT></TD>
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&nbsp;</FONT></TD>
<TD COLSPAN=5><BR><FONT SIZE=2><B>USA BROADCASTING, INC.</B></FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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<TD COLSPAN=3><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>CHARLES SOMMER</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Charles Sommer</FONT></TD>
</TR>
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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>General Counsel&nbsp;&amp; SVP</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<FONT SIZE=2><A HREF="#toc_ll1533_1">EXHIBIT 10.36</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_ll1533_2">FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT</A></FONT><BR>
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