Univision may end up getting less than expected from selling its Spanish record labels. The New York Post reports that bidders have been cutting their offers because of worries about artist contracts, advertising access to the Univision networks, payola allegations and pending lawsuits. So, instead of 250-300 million, the Post story says bidders are more likely to pay around 200 million. About a half dozen bidders are reportedly still involved, with Universal Music Group the most likely buyer, but SonyBMG and Warner Music Group still in the thick of it. When Saban Capital, Thomas H. Lee Partners, Providence Equity Partners, Madison Dearborn Partners and Texas Pacific Group took Univision private this year, they indicated that they expected to get about a half billion bucks from selling off Univision Music Group and some non-core radio stations.
