Spanish-language media company Univision announced that it has agreed to sell a 64% stake to 2 investment firms, Searchlight Capital Partners and ForgeLight LLC by MadelinePBerg
Haim Saban and the other owners of Univision have decided to sell their stake in the weakenedSpanish-language media company Univision—known best for its broadcast network—announced that it has agreed to sell a 64% stake to Searchlight Capital Partners and ForgeLight LLC, two investment firms.
While details of the transaction were not disclosed, Searchlight and ForgeLight are expected to pay a combined $800 million, according to CreditSights analyst Ashley Taylor. The deal likely values Univision at less than $10 billion, including debt of $7.4 billion. That means Saban, who led the group of private equity investors to purchase the company in a leveraged buyout worth $13.7 billion in 2007, will walk away with a far lower payout than he had originally envisioned.
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