Deals
Univision Scraps IPO, Leaving Billionaires Without Exit Plan
- Broadcaster cites market conditions, replaces finance chief
- Revenue slumped 8% in latest quarter as ad sales declined
This article is for subscribers only.
Univision Holdings Inc. scrapped plans for an initial public offering, leaving the company’s billionaire backers without an exit strategy 11 years after executing one of the media industry’s biggest-ever leveraged buyouts.
The New York-based TV network, a fixture in Spanish-speaking households for decades, pulled its listing plans due to “prevailing market conditions,” according to a filing Tuesday. The company also replaced its chief financial officer.