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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

29 mins ago - World

South Africa says it's being "punished" for detecting new COVID variant

South African Foreign Minister Naledi Pandor addresses the 76th Session of the U.N. General Assembly on September 22, 2021 in New York City. Photo: Eduardo Munoz - Pool/Getty Images)

South Africa said Saturday it's being "punished" for detecting the new Omicron coronavirus variant as more countries rush to enact travel bans and restrictions.

Driving the news: The U.S. imposed air travel restrictions from eight countries Friday in response to the Omicron variant. Countries in Europe and Asia have also implemented their own travel restrictions in response to Omicron.

Trump can't quit mainstream media

Bob Woodward and Robert Costa are interviewed by Chuck Todd on "Meet the Press" in September. Photo: William B. Plowman/NBC via Getty Images

Bob Woodward and Robert Costa issued a rebuttal on Friday to a statement by former President Donald Trump that misrepresented their reporting — and once again showed the 45th president's thin skin about mainstream media.

Driving the news: "Former President Trump said ... our book, 'Peril,' implied that he was planning to go to war with China," the statement begins. "[W]e report that Chairman of Joint Chiefs Mark Milley 'believed that Trump did not want a war' before or after the 2020 election."

NY declares state of emergency amid concerns over Omicron COVID variant

Governor Kathy Hochul makes an announcement about a new plan transforming Penn Station on Nov. 3, 2021. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

New York Gov. Kathy Hochul on Friday declared a state of emergency amid rising COVID-19 cases and the newly-identified Omicron variant of the virus.

Driving the news: The declaration enables the state to acquire supplies to fight a potential surge in cases, increase hospital capacity and combat potential staff shortages, NBC's local affiliate reports.