Los Angeles – Univision Communications Inc., the No. 1 U.S. Spanish-language network, said Wednesday it is considering options that include a possible sale of the company. Its shares jumped 12 percent.
Directors decided to explore alternatives and hired UBS AG as a financial adviser, Univision said in a statement.
While Univision’s audience has jumped in the past year, ranking it second behind News Corp.’s Fox for young viewers, stock prices haven’t reflected the gains. The shares were down 14 percent in the past two years before Wednesday. Likely buyers include Mexico City-based Grupo Televisa SA and U.S. media companies eager to tap the growing Hispanic market, analysts said.
“This is one of the areas of growth,” said David Bank, analyst at RBC Capital Markets in Toronto.
The New York Times earlier reported the plans, triggering a surge in the share price.
