Univision, Privately Owned for More Than a Decade, Explores Sale
July 03 2019 - 4:13PM
Dow Jones News
By Benjamin Mullin and Cara Lombardo
Univision Communications Inc. is exploring strategic options
including a possible sale, according to people familiar with the
matter, a process that could culminate in a long-sought deal for
the Spanish-language broadcaster's private-equity owners.
The company has hired Morgan Stanley and boutique investment
bank LionTree to explore its strategic options, according to the
people.
The process is in its early stages and a deal is far from
certain, the people said.
Univision is hoping the company could attract interest from
large media companies looking to add Spanish-language programming
to their assets, some of the people said. In 2017, Univision turned
down an offer from cable tycoon John Malone that valued the company
at between $13.5 billion to $15 billion.
Univision had no immediate comment.
Univision's backers, which include billionaire Haim Saban's
Saban Capital Group and private-equity firms Madison Dearborn
Partners and Providence Equity Partners, among others, have been
eager for an exit.
Univision is grappling with debt, the consequence of a $13.7
billion leveraged buyout in 2006 when the company was taken
private. The company said it finished 2018 with $7.4 billion in
debt but reduced its total debt by $547 million last year.
After a period of turbulence in Univision's upper ranks, the
company made a number of changes. It brought in media industry
veteran Vincent Sadusky as chief executive last year to succeed
Randy Falco.
This spring, it agreed to sell off its Gizmodo Media Group unit
-- which included English-language sites like Jezebel, Deadspin and
Lifehacker -- to private-equity firm Great Hill Partners.
Write to Benjamin Mullin at Benjamin.Mullin@wsj.com and Cara
Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
July 03, 2019 15:58 ET (19:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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