Televisa, Univision to bury the hatchet?

By Cyntia Barrera Diaz

MEXICO CITY, April 29 (Reuters) - A decision by Mexican broadcaster Televisa and U.S. partner Univision to delay a trial, the latest in a three-year legal battle, is good news, analysts say, and could lead to a settlement out of court.

Televisa TV.N TLVACPO.MX, the world's biggest producer of Spanish-language shows, and Univision were to begin a trial in Los Angeles on Tuesday but they asked a judge to postpone it until July.

The two have been sparring in courts since 2005, when Televisa filed a lawsuit demanding royalty payments it said Univision had withheld as part of a programming deal that expires in 2017.

The companies declined to say why they waited until the last minute to ask for more time.

"I think this is good news for both parties ... the best scenario for them is that they continue with the agreement," said Gregorio Tomassi, an analyst with Santander.

Univision, which heavily depends on Televisa's programming for its prime time line-up at its three networks, would be hurt if the deal falls apart.

"It is not convenient for Univision to scratch the relationship with Televisa," said HSBC analyst Jaime Aguilera.

The legal fight began in 2005 after Jerrold Perenchio, then CEO of Univision, made one of his lieutenants his successor, crushing Televisa's hopes of putting one of its own at the helm of the U.S. company.