Spanish-language broadcaster Univision Holdings Inc. launched
the process for an initial public offering by filing Thursday with
the Securities and Exchange Commission.
The New York-based company filed for an IPO of up to $100
million. That figure, used to calculate registration fees, is
likely to change.
Univision will trade under ticker symbol "UVN," though the
company hasn't determined if it will list on the New York Stock
Exchange or Nasdaq Global Market.
Earlier this year, The Wall Street Journal reported that
Univision could raise $1 billion or more in an IPO, valuing the
company at as much as $20 billion, according to people familiar
with the situation.
Univision is owned by a consortium of investors, including
billionaire Haim Saban, Madison Dearborn Partners, Providence
Equity Partners, TPG and Thomas H. Lee Partners. The group bought
Univision in early 2007 for $13.7 billion, including debt.
The IPO follows an unsuccessful sale of the business last year
to media companies including CBS Corp. and Time Warner Inc.
The dominant Spanish-language broadcaster in the U.S., Univision
has been propelled by the U.S.'s growing Latino population. The
company operates a variety a 24-hour cable networks and 60 local
stations in 26 markets, in addition to digital and radio
offerings.
Univision barely broke even last year and reported $2.9 billion
in revenue.
The offering is being led by Morgan Stanley, Goldman Sachs Group
Inc. and Deutsche Bank AG
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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