It’s not getting any easier for Univision’s owners.
Already battered by two failed attempts at an initial public offering and a resurgent rival in Telemundo, the five private equity owners of the once-dominant Spanish language broadcaster are now faced with a brutal carriage dispute and a forecast that revenue next year will decline 4 percent — its largest downturn ever, The Post has learned.
A leading Univision lender said he is forecasting a 4 percent revenue drop in 2019 — after being flat this year.
The decline is expected to put more pressure on the heavily indebted media company.
The pressure to increase revenue is likely one reason for the carriage-fee standoff with Dish.
The pay-TV distributor dropped Univision on June 30 when it couldn’t come to an agreement on fees.
Univision’s owners — Madison Dearborn Partners, Providence Capital Partners, TPG Capital, THL Partners and Haim Saban — may also be looking to raise money by selling off some assets.
The Big Apple-based company is weighing the sale of Fusion Media Group, which includes Gizmodo and Deadspin, The Wall Street Journal reported on July 6.
The unit, cobbled together in separate purchases in 2016, was supposed to be Univision’s growth engine.
Meanwhile, as the five PE owners try to sort out the mess, rival Telemundo, owned by Comcast’s NBCUniversal, is enjoying growing prime-time ratings — thanks in large part to new, saucier novelas that are appealing to a younger audience.
Telemundo, which once trailed Univision in the ratings game by a wide margin, won the coveted 18-to-49 demo during prime time for the week of June 18-24, according to Nielsen — averaging a 0.5 rating to Univision’s 0.4.
At the same time, Telemundo is scoring record daytime ratings thanks to the World Cup. It outbid Univision for the rights to the 2018 and 2022 soccer tournaments.
The struggle is not what the five PE giants had hoped for when they bought Univision for $13.7 billion in 2007.
But with five owners, each with their own idea of what they wanted out of the deal — a quick flip for some and a prolonged ownership period for another, for example — perhaps it is no surprise Univision is suffering.
“This is a poster child of a club deal gone wrong,” a source who was close to Univision’s owners told The Post, referring to when multiple buyout players own the same company.
As it turned out, Providence and THL Partners wanted a quick flip, while Madison Dearborn and TPG wanted to expand the business for at least five years, the source said.
“If everybody’s in charge, nobody is in charge,” the source said.
Any two of the firms, besides Saban, can stop significant moves, the source said.
The PE firms tried to sell Univision in 2014 at a $20 billion valuation and received no takers.
“The five partners could not agree on a [reduced] price,” the source said.
The Univision lender believes the network is worth $11.5 billion, not much more than its $8 billion in debt.
Univision and the PE firms declined to comment.
Web & Domain Protection Software Market SWOT Analysis by Key Players: Leaseweb, Namecheap, SiteLock, Verisign, Sucuri
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Global Web & Domain Protection Software Market By Application/End-User (Value and Volume from 2019 to 2025) : Large Enterprises & Small and Medium-sized Enterprises (SMEs)
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Global Web & Domain Protection Software Market by Key Players: ZeroFOX, Comodo, Domain.com, GoDaddy, Register.com, Leaseweb, Namecheap, SiteLock, Verisign, Sucuri, Cloudflare, Pointer Brand Protection, Sasahost, WebARX, AppRiver, Rebel.com
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Q 2. What are the business threats and variable scenario concerning the market?
Q 3. What are probably the most encouraging, high-development scenarios for Web & Domain Protection Software movement showcase by applications, types and regions?
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Chapter 1 Global Web & Domain Protection Software Market Business Overview
Chapter 2 Major Breakdown by Type [, Cloud-Based & On-Premise]
Chapter 3 Major Application Wise Breakdown (Revenue & Volume)
Chapter 4 Manufacture Market Breakdown
Chapter 5 Sales & Estimates Market Study
Chapter 6 Key Manufacturers Production and Sales Market Comparison Breakdown
Chapter 8 Manufacturers, Deals and Closings Market Evaluation & Aggressiveness
Chapter 9 Key Companies Breakdown by Overall Market Size & Revenue by Type
Chapter 11 Business / Industry Chain (Value & Supply Chain Analysis)
Chapter 12 Conclusions & Appendix
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BY SYLVIA SANCHEZ
Bombastic barrister Michael Avenatti facing new indictment for Nike ‘shakedown’
Prosecutors slapped trash-talking attorney Michael Avenatti with a new charge Wednesday for his alleged shakedown of Nike while also reducing the legal risk for celeb lawyer Mark Geragos, who is implicated in the case.
The new indictment filed in Manhattan Federal Court eliminated conspiracy charges against Avenatti, who is accused of attempting to extort the shoe giant for more than $20 million or he’d go public with claims the company secretly paid college basketball prospects.
Avenatti and Geragos were representing Gary Franklin Sr., a prominent figure in the youth basketball world, when prosecutors say Avenatti crossed the line from legal advocate to criminal.
A conspiracy charge requires an agreement with a second person, raising the possibility that Geragos was the other person involved in the alleged extortion plot. But in the new indictment, prosecutors replaced two conspiracy charges with an honest services fraud charge against Avenatti. The evidence in the case remains the same.
“I’ll go take $10 billion off your client’s market cap… I’m not f—–g around,” Avenatti told Nike lawyers on March 20, according to a criminal complaint.
Avenatti, 48, demanded Nike hire him and Geragos to conduct an internal investigation paying up to $25 million, the complaint reads.
Avenatti has pleaded not guilty and said he’s the victim of “vindictive prosecution” due to his criticism of President Trump. As part of his defense, Avenatti seeks to introduce evidence of Nike payments to college basketball players.
Geragos, a Los Angeles-based attorney who has represented celebrities including Winona Ryder, Kesha, Colin Kaepernick and Michael Jackson, did not respond to an email. He has not been charged.
“I am extremely pleased that the two counts alleging I engaged in a conspiracy against Nike have just been dismissed by Trump’s DOJ. I expect to be fully exonerated when it is all said and done,” Avenatti tweeted.
A trial is set for January.
Avenatti is separately charged in Manhattan with stealing $300,000 from a book deal made by his former client, porn star Stormy Daniels, who claims to have had an affair with Trump. Avenatti became famous in large part through his aggressive representation of Daniels.
By STEPHEN REX BROWN
Elon Musk picks Berlin for Tesla’s Europe Gigafactory
Elon Musk said Tuesday during an awards ceremony in Germany that Tesla’s European gigafactory will be built in the Berlin area.
Musk was on stage to receive a Golden Steering Wheel Award given by BILD.
“There’s not enough time tonight to tell all the details,” Musk said during an on stage interview with Volkswagen Group CEO Herbert Diess. “But it’s in the Berlin area, and it’s near the new airport.”
Tesla is also going to create an engineering and design center in Berlin because “I think Berlin has some of the best art in the world,” Musk said.
Musk took to Twitter after the ceremony and provided a bit more detail, including that this factory will build batteries, powertrains and vehicles, beginning with the Model Y.
Will build batteries, powertrains & vehicles, starting with Model Y
— Elon Musk (@elonmusk) November 12, 2019
Diess thanked Musk while on stage for “pushing us” towards electrification. Diess later said that Musk and Telsa is demonstrating that moving towards electrification works.
“I don’t think Germany is that far behind,” Musk said when asked about why German automakers were behind in electric vehicles. He later added that some of the best cars in the world are made in Germany.
“Everyone knows that German engineering is outstanding and that’s part of the reason we’re locating our gigafactory Europe in Germany,” Musk said.
By Kirsten Korosec
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