Univision Auction in Disarray

LOS ANGELES, June 22: The
highly touted bidding frenzy that was expected around the Univision sale has
not materialized, according to reports, with Haim Saban’s consortium submitting
an offer that was deemed too low and three equity firms dropping out of
Televisa’s group.

The investment firms
Madison Dearborn Partners, Providence Equity Partners, the Texas Pacific Group
and Thomas H. Lee Partners teamed with Haim Saban for an offer that was less
than $11 billion, the New York Times reports. Univision has asked for a higher
price, but the consortium has reportedly said it is not prepared to revise its
offer.

Televisa’s consortium,
meanwhile, is down three firms—Blackstone Group and Kohlberg Kravis
Roberts have followed Carlyle Group in dropping out in a dispute over price.
The consortium, which also includes Venevision, is said to be considering an
offer of $11 billion or more.

There is speculation that
the Hispanic broadcaster’s chief and majority owner, A. Jerrold Perenchio, may
call off the sale if he doesn’t receive a satisfactory offer today.