Hemisphere Media Group, the Miami-based parent of Spanish-language networks like Cine Latino and WAPA America, has approached Univision about a possible buyout, according to a report in the Wall Street Journal.
According to the Journal, Hemisphere is one of three potential suitors for Univision -- Los Angeles-based private equity fund Platinum Equity and an undisclosed company are the other two. Univision, which withdrew an initial public offering in 2018, has been looking for an exit for its private equity owners for months.
Hemisphere Media and Univision declined to comment. Platinum Equity did not respond to a request for comment.
Univision hired Morgan Stanley, Moelis & Co. and LionTree Advisors in July to explore possible strategic opportunities, including a sale. With three potential offers at the door, Univision’s owners could be closer to an exit than they have been in years.
Hemisphere, led by industry veteran and former InterMedia Partners executive Alan Sokol, has several Spanish-language broadcast and content properties in the U.S., Colombia and Puerto Rico, and reached a deal earlier today (Dec. 18) for continued carriage of its WAPA America channels on Dish Network.
