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Hispanic media giant Univision Holdings, which in December delayed its anticipated initial public offering, has again put off its debut on the New York Stock Exchange until later this year, according to two people with knowledge of the process.

Univision, owner of the country's dominant Spanish-language broadcast network and cable TV network, initially planned to launch its IPO after Labor Day in 2015 but decided in December to put it off due to concern by investors over the poor performance of newly issued shares. At the time the New York company focused on completing the IPO in the first quarter.

The board also is concerned about the performance of larger media companies' stock, the sources said. Many of those companies are seen by Wall Street as being affected by "cord-cutting" by cable and satellite subscribers who are dumping their subscriptions. 

The company generates significant fees from its cable channels, which include Galavisión and the Univision Deportes sports network as well as its 59 TV stations.

The Univision board likely will want to wait until after the summer for the IPO, one of the sources said. One reason would be to capitalize on the boost in political advertising as the U.S. presidential and congressional campaigns swing into full gear.

On Thursday, the company announced first-quarter earnings of $65.7 million, compared with a $139.7 million loss a year ago, and a 5.7% increase in revenue to $660.4 million. The loss in 2015 was due to the ending of a management agreement and other nonrecurring expenses.

A Univision spokeswoman said the company had no comment on the timing of the IPO, citing a Securities and Exchange Commission quiet period.

A consortium of five private equity firms headed by media investor Haim Saban acquired Univision in 2007 for $13.7 billion. The deal saddled the company with debt just before the financial crisis. The group held preliminary sale talks with media companies including CBS (CBS) - Get Free Report and Time Warner (TWX) in 2014, according to reports at the time, but no agreement was reached.

Univision filed an initial Form S-1 for the IPO with the SEC on July 2. Morgan Stanley (MS) - Get Free Report , Goldman, Sachs (GS) - Get Free Report and Deutsche Bank (DB) - Get Free Report would lead underwriters on the offering, which Univision hopes will raise at least $10 billion, according to media reports, with an enterprise value of $19 billion.

The company plans to lists its shares under the UVN ticker symbol.

This article is commentary by an independent contributor. At the time of publication, the author held a position in CBS.