Univision Communications Inc, the New York-based Spanish-language broadcaster, is looking to go public later this year in a bid to raise $1 billion, a move that would value the company at $20 billion, according to a report in Reuters.
Univision — which targets Hispanic Americans with a mix of sports, news, sitcoms and telenovelas — has hired three big banks to lead the effort: Goldman Sachs, Morgan Stanley, and Deutsche Bank AG, Reuters reported in an exclusive. Other banks are expected to join in the underwriting effort.
The media company got its start in 1955 as a local TV channel in San Antonio, Texas. In the 1960s, it began to expand and add on other Spanish-language television stations, mostly in the west. It became known as Univision in 1986 when the company changed hands and began to really consider itself as a network.
In 2007, Univision was taken private by a group of buyout firms, including Madison Dearborn Partners and Providence Equity Partners. Mexican media company Grupo Televisa is also a significant investor.
Last year, Univision generated annual net revenue of $2.91 billion last year, up from $2.63 billion a year ago, Reuters reported.
(StaffNew York Business Journal)