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CBS CBS Corp

40.77
0.00 (0.00%)
01 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
CBS Corp NYSE:CBS NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 40.77 0 01:00:00

Univision Files for IPO

02/07/2015 1:00pm

Dow Jones News


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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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