Univision has engaged Morgan Stanley & Co. LLC, Moelis & Company LLC and LionTree LLC as financial advisors to assist with the process.
In a statement, Univision’s Board of Directors of Univision said, “After a successful year under the leadership of our new management team, including a complete refocus on our core Spanish-language media business, it is abundantly clear that Univision’s strategic value has never been greater. The U.S. Hispanic audience represents one of the very few certain growth opportunities in today’s media marketplace, and Univision is ideally positioned … As the last major independent broadcast media company in the U.S., a market where scale and strength matter, Univision has the fundamentals for continued growth on its own or with a partner – and after careful consideration, the Board and management team have concluded the time is right to explore strategic options.”
CEO Vince Sadusky added, “Univision is strategically, operationally and financially strong, having refocused on serving our core consumers, as well as our advertising and distribution partners. Over the past year, Univision has gained momentum as it has divested non-core assets; strengthened programming; secured long-term distribution deals and valuable sports rights; increased investment in news, sports, local, and digital offerings; and materially strengthened its balance sheet. The current environment favors scale and cross-platform offerings, and we believe those major media companies that fail to recognize and capitalize on this unique opportunity in Spanish-language media will be left behind.”
Univision notes that “there can be no assurances as to the timing or outcome of this review. Univision does not intend to disclose or comment on developments related to its review unless and until the Board has completed its review, or otherwise determined that further disclosure is appropriate or beneficial.”
By Adam R Jacobson