Televisa Prepares To Bid For Univision

Mexican media company Televisa is preparing to lead a bid for Univision, the largest Spanish-speaking broadcaster in the US. The Los Angeles-based company was put up for sale in February and bids are likely to top $12 billion, according to industry reports. The company currently has a market value of just under $11 billion. The group led by Televisa includes Caracas-based Venevision Investments, and several US private equity firms. Another bidder is also expected to step forward: a group comprising Israeli investor Haim Saban and a number of US firms.