Bloomberg — SoftBank Group Corp. is considering a sale of its stake in Spanish-language TV broadcaster TelevisaUnivision, according to people familiar with the matter, as the Japanese conglomerate unloads assets amid a prolonged tech slump.
No final decision has been made and the Tokyo-based company could opt to hold onto the stake, said the people, who asked to not be identified because the matter isn’t public. It’s not clear how much the stake is worth.
A representative for SoftBank declined to comment. Representatives for TelevisaUnivision didn’t immediately respond to requests for comment.
SoftBank took an in interest in TelevisaUnivision last year when it helped finance Univision’s purchase of rival Grupo Televisa SAB’s (TV, TLEVICPO) content and media assets, creating the new entity. The SoftBank Latin American Fund led a $1 billion preferred equity investment to support the deal, Bloomberg News reported at the time.
The potential sale comes as SoftBank founder Masayoshi Son -- grappling with the downturn in the technology market -- cuts staff and sells assets including some of its stake in Alibaba Group Holding Ltd. to raise cash and bolster his balance sheet.
Son has repeatedly said his primary focus is to take chipmaker Arm Ltd. public in the US, following the collapse of its sale this year to Nvidia Corp.
Read more on Bloomberg.com
