Spanish language broadcaster Univision has hired bankers to explore a sale, the company confirmed, after a report in The Wall Street Journal. The news comes on the eve of the annual Allen & Co conference in Sun Valley where media moguls come to make deals.
It’s not a surprise that Univision’s private equity owners, which took the company private 12 years ago, are looking for an exit. They had hoped to take the company public a couple years ago, but the market conditions soured.
Univision has had offers in the past from the likes of Time Warner and Discovery, that were reportedly willing to pay anywhere from $13 billion to $18 billion, which it turned down. The question now is whether the owners are wiser and have lowered their price expectations. In a press release confirming their “review of strategic options,” Univision touted the strengths of its business, perhaps a sign that its owners are this time keen to sell.