Univision, the leading American Spanish-language media company, withdrew its plans for an initial public offering on Tuesday. The company cited "prevailing market conditions." It originally filed in July 2015 with a proposed deal size of $100 million, likely a placeholder for an IPO that we estimate could have raised $1 billion.
Univision also issued a press release stating that CFO Francisco Lopez-Balboa was being replaced by EVP of Finance Peter Lori as the company's new CFO.
The New York, NY-based company was founded in 1962 and booked $3.1 billion in sales for the 12 months ended March 31, 2017. It had planned to list on the NYSE under the symbol UVN. Morgan Stanley, Goldman Sachs, Deutsche Bank, Allen & Company, Barclays, BofA Merrill Lynch, Citi, Credit Suisse, Guggenheim Securities, J.P. Morgan and Wells Fargo Securities were set to be the joint bookrunners on the deal.
