Televisa-Led Univision Bid Consortium Misses Deadline

LOS ANGELES/MEXICO CITY, June 21: The Televisa-led
consortium of investors looking to acquire U.S. Hispanic broadcaster Univision
missed THE bid deadline, the New York Times
reports, in part because Carlyle Group dropped out at the last minute in a
dispute over the proposed purchase price.

The Televisa consortium is still expected to submit an
offer, possibly today, and Univision may waive the deadline. Reports indicate,
however, that the bidding war many analysts expected will not happen. It
appears that only one group submitted a bid: Haim Saban’s consortium with Madison
Dearborn Partners, Providence Equity Partners, the Texas Pacific Group and
Thomas H. Lee Partners. Price has emerged as the critical issue, and reports
indicate that Univision may not receive the $14 billion many
expected—bids are expected to be between $11 billion and $13 billion.