Televisa Denies Univision Reports3/13/2006 8:40 AM Eastern
Mexican television giant Grupo Televisa SA issued a statement Monday saying that it has not yet made a decision on whether to bid for Spanish-language broadcaster Univision Communications Inc., refuting press reports that it was involved in a consortium that was readying a bid for the company.
“We are in the early stages of analyzing different alternatives to determine what, if any, course of action makes sense for us,” Televisa said in the statement. “At this point, we are not participating in the process and we have had no discussions or negotiations with Univision. In addition, we have no agreements with any third party to form a group or consortium.”
Last Friday, a report in The New York Times said Televisa -- which owns about 11% of Univision and supplies much of its programming -- was getting ready to make a bid for Univision with private-equity groups Providence Equity Partners Inc., Madison Dearborn Partners, Cisneros Group and media investor Haim Saban.
Univision, which went on the block last month, is expected to attract $12 billion-$13 billion in a sale.
Univision shares were down about 11 cents each to $34.07 per share in 4 p.m. trading Monday.