NEW YORK (TheStreet) -- Univision Holdings, the Spanish-language media company, plans to hold an initial public offering to capitalize on its growing audience both on television and online.
Grupo Televisa (TV) - Get Report, Mexico's dominant Spanish-language media company and part-owner of Univision, is poised to be a big winner in the offering. The filing Thursday didn't detail a price or how many shares would be sold to the public. Televisa's ADRs were gaining 1.8% to $39.14 in New York trading Thursday morning.
Televisa will retain 22% of Univision's voting rights following the IPO. Televisa provides programming for Univision, and it extended its contract with the broadcast company through 2030, or until 7.5 years after it sells off its position in Univision.
Univision Holdings is known for its flagship Spanish-language broadcast network by the same name, but it holds a wide variety of media companies, including broadcast and cable networks, local television stations and digital media outlets.
According to Rentrak, the entertainment ratings company, Spanish-language programs held seven of the top 10 broadcast television shows in terms of audience engagement last week. Only the NBA Finals did better. Univision broadcast four of those top seven Spanish-language shows. Univision's ratings regularly beat traditional broadcast networks.
"Univision out-delivered one or more of the English-language broadcast networks (ABC, CBS (CBS) - Get Report, NBC or FOX (FOXA) - Get Report) on every night this past week among young adults 18-34 and on six out of seven nights with adults 18-49," the company said in a statement. The network was ranked No. 3 among viewers aged 18 to 34.
Univision was most recently in the news when real-estate developer and sometime TV personality Donald Trump sued the company for $500 million after the network cut ties with the businessman due to insulting remarks he made towards Mexicans and immigrants.
The company generates revenue through advertising and subscriptions, which totaled $2.9 billion in 2014. The company's net income was $0.9 million in 2014, and Univision lost $142.3 million in the first quarter of 2015, according the SEC filing.
Randel Falco, CEO of Univision, had a base pay of $1.75 million in 2014, with an additional incentive bonus of $3.4 million, totaling $5.15 million.
The U.S. Spanish-speaking audience totaled 57 million in 2014, and is expected to grow to 77 million by 2030, according to the filing. U.S. Hispanics command a buying power estimated at $1.3 trillion in 2014. Univision reported being available in 94% of those homes through pay-TV services, and said Univision.com attracted the greatest number of visits from U.S. Hispanics among Spanish-language Web sites.
The company applied to be listed under the UVN symbol.