Report: Univision Pushes Back Timeframe For IPO
September 28, 2016 at 3:58 AM (PT)
In early AUGUST (NET NEWS 8/2), ALL ACCESS reported UNIVISION's initial public offering was getting close, with multiple sources claiming that the company's IPO, the plans for which were first announced last year, likely to happen in the FALL, with a post-election time frame.
Now, THE NEW YORK POST reports, "UNIVISION COMMUNICATIONS won’t conduct its public offering in 2016 as expected. UNIVISION’s board is said to have met last week and decided that market conditions aren’t ideal. UNIVISION is still waiting on a waiver from the FEDERAL COMMUNICATIONS COMMISSION to allow a key shareholder, Mexican media giant TELEVISA, to increase its stake in the U.S.-based Spanish-language broadcaster from 10% to 40%."
To allow that move by TELEVISA, the FCC would have to grant permission to exceed the 25% foreign ownership limit.