|
Univision heads for auction with few suitors
[NYPOST] Univision is trying to sell itself again ‐ and investors are bracing for yet another long, dragged-out telenovela.In the middle of last month, the Spanish-language TV network quietly gathered a select group of prospective suitors in New York as it sought a price tag north of $10 billion, sources told The Post. But after sifting through more than 100 pages of confidential financial information, the group of media companies and buyout firms appears to have taken a pass, according to a source with direct knowledge of the situation. Now, Univision is in "the very early stages" of a formal auction process with a "strict timetable" that’s being run by Morgan Stanley, Moelis & Co. and LionTree, an insider said. The banks, however, haven’t set a bidding deadline, sources said. In the coming weeks, prospective bidders will face a tough question: As Univision tries to wean itself from tear-jerking soap operas and game shows hosted by women in tight dresses, can it remake itself into a millennial-focused powerhouse that can compete with online rivals like Netflix? Posted by: Fred 2019-08-08 |
| http://www.rantburg.com/poparticle.php?ID=547452 |