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Univision Leaning Toward IPO in 2014

6/12/2014

By Reuters
TheWrap

New York-based Univision was taken private by a group of buyout firms including Madison Dearborn Partners, Providence Equity Partners, TPG Capital and Thomas H. Lee Partners for $12.3 billion in March 2007.

The company is leaning toward an IPO, which may come in the second half of 2014, as the board continues to evaluate the company's strategic direction, one of the people said, adding that Univision has not yet made a formal decision to proceed with the offering.

All the people asked not to be identified because the discussions are confidential. Univision, Madison Dearborn, TPG, Providence and THL declined to comment.

Also read: Cesar Conde Named NBCU EVP, Resigning as President of Univision Networks

A surge in the equitymarketsthis year has encouraged large private equity-backed companies to pursueIPOs.

Hotel operator Hilton Worldwide, which was taken private by Blackstone Group LP for $26 billion in 2007, said earlier this month it intends to raise upwards of $1.25 billion from an initial public offering.

Oil andnatural gascompany Antero Resources Corp, controlled by private equity firm Warburg Pincus LLC, is planning a $1 billion IPO.

Univision owns a highly rated Spanish language broadcast network that sometimes beats English language broadcasters such as NBC in the primetime ratings race. It also owns another broadcast channel called UniMas, as well as several cable networks and a stable of Spanish radio stations.

Mexican media conglomerate Televisa, which also provides a chunk of Univision programming, made a $1.2 billion investment in the company in 2010. As part of the deal, Televisa took a 5 percent Univision stake and bought debt that could be converted into a stake of up to 30 percent in the broadcaster.

Univision's second-quarterearningsgrew 28 percent this year to $40.7 million. Revenue rose 10.4 percent to $676.5 million.

Related stories from TheWrap:

Comcast's Marlene Sanchez Dooner Named NBCU's EVP of Hispanic Enterprises & Content

Telemundo Chief Reveals Plan to Be No. 1: No English Required

How Univision's Morning Show Is Out-Growing 'Today,' GMA and 'CBS This Morning'

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