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Illustration: Rebecca Zisser/Axios

Michael Klein, a former Citi banker who now runs his own M&A advisory firm, is considering a takeover bid for broadcaster Univision, per Bloomberg.

Why it matters: Univision's private equity owners have wanted to exit for years, and Klein has a knack for getting difficult deals over the finish line.

  • But the biggest difficulty here might be Klein justifying the deal to himself: Univision still has over $7 billion of debt tied to its original buyout, is a linear broadcaster with virtually no streaming efforts, and is still trying to recover audience from its yearlong blackout on Dish.

Details: Klein would utilize a publicly-traded, blank-check company called Churchill Capital II, which raised $600 million in its IPO earlier this year. It's unclear if he could add leverage, as Univision still has over $7 billion of debt on its books.

The bottom line: "Klein is one of the world’s top dealmakers, with deep connections throughout the U.S., Europe and Middle East. He is advising Saudi Aramco on its planned IPO and he counseled Dow Chemical Co. on its jumbo merger in 2016 with DuPont," writes Bloomberg.

Go deeper: The battle for the future of Spanish-language TV

Go deeper

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — Fauci: Hotspots have materialized across "the entire country."
  2. World: Belgium imposes lockdown, citing "health emergency" due to influx of cases.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.
Dan Primack, author of Pro Rata
Updated 7 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
9 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.