Spanish-language media giant Univision Communications, which recently unveiled a $4.8 billion deal to combine media, production and content assets with Mexico’s Televisa, has unveiled financial metrics and preliminary first quarter results as it considers potential financing transactions and market opportunities.
On Monday, Univision, which is led by CEO Wade Davis, forecast overall revenues of $634 million, down 4 percent from a year-earlier $660 million, for the three months to March 31 due to subscriber losses that were partly offset by advertising revenue rising four percent.
Univision also said it had cash and cash equivalents of around $526 million, with additional availability under its revolving credit facilities of approximately $839 million for total available liquidity of $1.36 billion when adding in credit facilities, for additional mergers and acquisitions around the Televisa deal.
Televisa and Univision are set to combine media, production and content into a new company to be called Televisa-Univision, with Univision paying around $4.8 billion for Televisa’s content assets.
“The company (Univision) is releasing these preliminary results as it considers market opportunities including potential financing transactions in connection with its previously announced proposed transaction with Grupo Televisa,” Univision said in a statement.
Also Monday, Univision said its PrendeTV online platform will stream 40 upcoming EURO 2020 matches, starting on June 11. That marks the first live sports programming to come to the streaming service since a launch in late March.
