Grupo Televisa SAB is in talks to join forces with Univision Communications Inc., according to people familiar with the matter, a deal that could more formally unite the Spanish-language media giants after a long partnership, Bloomberg News reported. With discussions at an early stage, no final decision has been made and talks could fall through. The two sides are still discussing the structure of a potential transaction and which parts of the businesses could merge. Televisa said in a statement that the companies are moving forward with talks about combining certain of its content assets with Univision. The two aren’t discussing a merger of the corporations themselves, Televisa said. A deal could cap a long saga for Univision, which has changed hands and scrapped an initial public offering in recent years. It was previously backed by private equity firms that bet on the rise of Spanish programming, only to watch the broadcaster get squeezed by cord cutting and an industry-wide switch to streaming services. Last year, Univision’s owners unloaded a majority stake in the company to former Viacom Chief Financial Officer Wade Davis and Searchlight Capital. Televisa, Mexico’s top broadcaster, had long held a stake in Univision and remained a minority investor after that deal. It currently holds about 36% of the business. Read more.