Univision Meets With CBS, Time Warner Over Potential Sale (Report)
Univision Communications is in early talks with CBS and Time Warner over a potential sale, according to a Wall Street Journal report.
The Spanish-language broadcaster has had talks with multiple suitors and an asking price of more than $20 billion is being sought, the Journal reported. The talks were described as "preliminary discussions."
Competing Spanish-language broadcaster Televisa was also named as suitor for Univision. Televisa did not immediately respond to request for comment.
The reported talks arrive after AT&T-DirecTV and Time Warner Cable-Comcast merger deals were made.
On an earnings call April 28, Univision CEO Randy Falco described the proposed Time Warner Cable-Comcast merger in unfavorable terms. It "could be bad for competition and most importantly bad for Hispanic audiences," he said at the time.
Univision claims viewership in more than 94 million homes in the United States. A group of investors, led by Haim Saban, control Univision. They purchased it in 2007 for $13.7 billion.
CBS declined to comment on the Journal report.
Earlier this week, Time Warner was reportedly in discussions to take an equity interest in Vice Media.