Univision Holdings Inc., the largest Spanish-language broadcaster in the U.S., aims for the second half of the year for its initial public offering that could raise as much as $1 billion, Bloomberg reported citing people familiar with the matter.
The report indicated that the New York-based company is waiting for better market conditions to sell its shares to the public, the people said, asking not to be named because the discussions are private. No final decision has been made on the timing of the deal.
Univision would hold the IPO, first announced in July, if it expects its market value to surpass $6.5 billion for the offering, the people said. Shares will be sold by the company and proceeds will be used to repay debt and for other corporate expenses, Univision said in July. The prospectus didn't say how many shares the company will sell or how much each share will cost.
The network was taken private in 2007 in a $12.3 billion leveraged buyout by a group of investors led by Saban Capital Group Inc. and including Madison Dearborn Partners, Providence Equity Partners Inc., TPG and Thomas H. Lee Partners.
In 2010, Grupo Televisa SAB, Mexico's largest TV provider, bought a 5 percent equity stake and debt that could be converted into an additional 30 percent holding.
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