Exclusive: Univision in talks with banks about 2014 IPO - sources

Thu Sep 19, 2013 6:41pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

By Olivia Oran and Soyoung Kim

NEW YORK (Reuters) - U.S. Spanish-language broadcaster Univision Communications Inc has in recent weeks held discussions with banks about an initial public offering, according to three people familiar with the matter, as strong stock markets encourage private equity owners to seek exits for their portfolio companies.

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.

A surge in the equity markets this year has encouraged large private equity-backed companies to pursue IPOs.

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

Oil and natural gas company 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.   Continued...

 
A technician works in the "Acquisition Room", which receives televison feeds from around the world, during an event to mark the opening of the new Univision and Fusion television networks newsroom in Doral, Florida August 28, 2013. REUTERS/Joe Skipper