Univision Up For Sale?
The Wall Street Journal reports tonight that the owners of Univision are seeking to sell the company and has held preliminary talks with CBS and Time-Warner.
Among its holdings are 68 radio stations in 15 markets. Those stations have seen many changes in the past few months as the company flipped multiple stations, revised much of their branding, and cut staffers in recent months. The changes were precipitated by the loss of revenue be the termination of Los Angeles based syndicated morning host Eddio ‘Piolin’ Soltelo last July.
The Wall Street Journal report states Univision’s owners are seeking more than $20 billion for the company. The group led by Haim Saban’s Saban Capital Group and including Madison Dearborn Partners, Providence Equity Partners, Thomas H. Lee Partners and TPG Capital paid $12.3 billion in 2006. Mexican broadcaster Grupo Televisa paid $130 million for a 5% stake of the company as part of a $1.2 billion investment in 2010.