AMENDMENT NO. 4 (THE "AMENDMENT") TO EMPLOYMENT AGREEMENT BETWEEN GEORGE W. BLANK AND UNIVISION TELEVISION GROUP, INC., WHICH WAS ASSIGNED TO UNIVISION COMMUNICATIONS INC. ("UNIVISION") (AS PREVIOUSLY AMENDED, THE "EMPLOYMENT AGREEMENT")

                      AMENDMENT NO. 4 (THE "AMENDMENT") TO
                EMPLOYMENT AGREEMENT BETWEEN XXXXXX X. XXXXX AND 
             UNIVISION TELEVISION GROUP, INC., WHICH WAS ASSIGNED TO 
                   UNIVISION COMMUNICATIONS INC. ("UNIVISION")
               (AS PREVIOUSLY AMENDED, THE "EMPLOYMENT AGREEMENT") 

                                January 1, 1999

To:  Xx. Xxxxxx X. Xxxxx
     c/o Univision Communications Inc.

Dear Xxxxxx:

     Your Employment Agreement will expire on December 31, 2000 (the "Term"). 
Univision desires to extend the Term for an additional one year period.  You 
and we hereby agree to amend the Employment Agreement as follows:

     1.  TERM.  The Term is hereby extended for an additional one year 
period.  The Employment Agreement shall expire on December 31, 2001, unless 
earlier terminated in accordance with the terms set forth in the Employment 
Agreement.

     2.  SALARY.  Your annual Base Salary rate shall be: Five Hundred Fifty 
Thousand Dollars ($550,000) for calendar year 1999;  Five Hundred Fifty 
Thousand Dollars ($550,000) for calendar year 2000; and Six Hundred Thousand 
Dollars ($600,000) for calendar year 2001. 

     3.  OTHER.  Except as provided in this Amendment, all other terms and 
conditions set forth in the Employment Agreement shall remain in full force 
and effect, and the parties hereby ratify and confirm the Employment 
Agreement, as amended hereby.

     4.  EFFECTIVE DATE OF AMENDMENT.  Upon its execution by you and 
Univision, this Amendment shall become effective as of the date first written 
above.

     5.  EXCLUSIVITY.  During the Term, you shall not directly or indirectly 
enter into any discussions or negotiations with anyone other than Univision 
for the performance of services by you after the expiration of the Term.  You 
will negotiate in good faith exclusively with Univision if Univision elects 
to seek an extension or renewal of your Employment Agreement prior to the 
expiration of the Term.

     Please indicate your agreement to this Amendment to the Employment 
Agreement by signing in the space provided below.

                                       UNIVISION COMMUNICATIONS INC.

                                       By: /s/ Xxxxxx X. Xxxxxx
                                          --------------------------
                                           Xxxxxx X. Xxxxxx
                                           Vice President

I have read the preceding Amendment and agree to its terms and conditions:


/s/ Xxxxxx X. Xxxxx
---------------------
Xxxxxx X. Xxxxx