The offering is set to occur later this year. The media company operates broadcast and cable networks, 60 local television stations, a number of radio stations, as well as digital and mobile apps.
Much of Univision's content comes from Mexican media company Televisa (TV - Get Report), the world's biggest producer of Spanish-language television programming. Univision has an agreement with Televisa until at least 2030. After the offering, Televisa will own 22% of Univision's voting rights.
Univision was bought by private-equity firms in 2007 in a leveraged buyout that has burdened Univision with massive amounts of debt. As of March 31st, Univision has $10.6 billion in outstanding debt against current assets of just over $1 billion.
The prospectus says that the company intends to use the capital raised from going public to pay off some of that debt while also providing the private-equity firms and investment funds the opportunity to exit their eight-year investment.
One risk the company lists in the prospectus is the inability to manage the debt were it to operate at a loss for extended periods of time, which has been the case recently.
Univision operated at a net loss of $142 million last year. As of Dec. 31 it had operating loss carry-forwards on federal taxes of $1.6 billion.