The sellers had bought the company for $ 13.7 billion, so they would not earn anything from this sale.
The deal is expected to be completed in the course of next week.
ROBYN BECK / AFP / Getty Images
The country’s largest Spanish-language broadcaster, Univision Communications, is in talks to be sold to a consortium of investors, according to the CNBC portal.
The consortium is led by former financial director of Viacom, Wade Davis, and the investment company Searchlight Capital Partners.
Since early 2019, Univision had already made public its intentions to look for a buyer who was willing to pay $ 10,000 million for the company
The sellers of the channel, a consortium that includes billionaire Haim Saban, had wanted to sell for the $ 10,000 million already mentioned, although in 2007 they paid $ 13.7 billion for Univision. That is they would not make a profit on this sale.
Apparently, the company did not perform as expected due to the growth of competition and its unsuccessful attempt to venture into the English media.
Although, so far, neither party has given a statement on this issue, they are expected to reach an agreement over the next week, according to information from the Los Angeles Times.
Univision Communications includes the Univision, UniMas and Univision Deportes chains. In addition, the company also It has more than 50 radio stations and around 60 television stations, including KMEX-TV Channel 34 in Los Angeles.
It should be noted that Univision is one of the most watched channels by Spanish-speaking viewers in the United States, so potential buyers hope to capitalize on their ability to reach the market of Latino millennials and their children.
–You may also be interested: CNN and Univision will hold Democratic presidential debate in Arizona on March 15