Univision Communications, the largest Spanish-language media company in the U.S. revealed Tuesday (June 27) it had agreed to sell the company to a group of private equity investors for $12.3 billion a

Univision Communications, the largest Spanish-language media company in the U.S. announced Tuesday (June 27) it had agreed to sell the company to a group of private equity investors for $12.3 billion and the assumption of $1.4 billion in debt.

The group, Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group bested a bid by Grupo Televisa SA, which supplies programming to Univision and has an 11 percent stake in the Hispanic conglomerate, including a seat on the board of directors.

The agreement is subject to regulatory and shareholder approval and is expected to close in the spring of 2007.

Univision’s properties include the Univision network and Univision radio, the largest Spanish language TV and radio networks in the country, respectively, as well as univision.com, Galavision and Telefutura networks, and Univision Music Group.