Randy Falco - H 2015
AP Images/InvisionUnivision on Tuesday filed yet another preliminary prospectus that will pave the way very soon to an initial public offering.
The Spanish-language broadcaster will list its shares on the New York Stock Exchange under the symbol “UVN.”
Univision has not priced the shares, nor has it said how much it intends on raising in its IPO, though investors including Thomas H. Lee Partners, Providence Equity Partners, Madison Dearborn Partners, TPG Capital and Saban Capital Group are hoping for a valuation of at least $20 billion.
Another investor is Televisa, a top programming producer for the Spanish-speaking world and a provider of content to Univision.
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Univision’s filing on Tuesday indicates the company recorded a net loss of $15.9 million in the first nine months of 2015 as opposed to net income of $139.9 million in the same frame a year earlier. Adjusted operating income before depreciation and amortization was $976.6 million, up from $897.5 million.
The latest prospectus says Univision is “the leading media company serving Hispanic America” and lists as some of its primary assets 59 TV stations in Los Angeles, Miami, New York and elsewhere, as well as 11 cable brands, Univision broadcasting, 67 radio stations and several websites.
Underwriters listed include Morgan Stanley, Goldman Sachs, Deutsche Bank Securities, Guggenheim Securities, Allen & Co., Wells Fargo, Credit Suisse and more.
Univision’s IPO has been in the works for some time, though delayed amid Wall Street jitters related to cord-cutting, ad-skipping, fragmentation and other challenges faced by the TV industry.
According to Tuesday’s prospectus, there were 57 million Hispanics in the U.S. in 2014, growing to 77 million by 2030. Their buying power in 2014 was $1.3 trillion, and it will grow to $1.7 trillion by 2019. The prospectus also boasts that 10 percent of U.S. voters are Hispanic.
The prospectus lists Randy Falco as CEO, Francisco Lopez-Balboa as CFO and entertainment entrepreneur Haim Saban as chairman of the board of directors.
Email: Paul.Bond@THR.com
