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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

The modern way to hire a big-city police chief

Illustration: Annelise Capossela/Axios

When it comes to picking a city's top cop, closed-door selection processes have been replaced by highly public exercises where everyone gets to vet the candidates — who must have better community-relations skills than ever.

Why it matters: In the post-George-Floyd era, with policing under utmost scrutiny, the choosing of a police chief has become something akin to an election, with the need to build consensus around a candidate. And the candidate pool has gotten smaller.

Felix Salmon, author of Capital
33 mins ago - Economy & Business

Speculative crypto art market takes off

Illustration: Aïda Amer/Axios

Move over, GameStop. The newest speculative game in town is NFTs — digital files that can be owned and traded on a plethora of new online platforms.

Why it matters: Most NFTs include some kind of still or moving image, which makes them similar to many physical art objects. Some of them, including a gif of Nyan Cat flying through the sky with a pop-tart body and rainbow trail, can be worth more than your house.

New coronavirus cases fall by 20%

Expand chart
Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon/Axios

New coronavirus infections continued their sharp decline over the past week, and are now back down to pre-Thanksgiving levels.

The big picture: Given the U.S.’ experience over the past year, it can be hard to trust anything that looks like good news, without fearing that another shoe is about to drop. But the U.S. really is doing something right lately. Cases are way down, vaccinations are way up, and that’s going to save a lot of lives.