• by David Goetzl  @dgoetzl, August 14, 2007

Despite the tumultuous credit markets, Univision Communications plans to seek a buyer for a handful of its owned-and-operated TV stations. The company said it has identified several stations within its portfolio of 62 O&Os that it will look to divest.

Company executives on a conference call to discuss recent second-quarter results declined to provide details, other than to say they have identified several "low-" and "full-" power stations they deem "non-strategic" and want to unload. The company did indicate that a sale would have minimal impact on revenues.

Univision, which earlier this year was taken over by a consortium of private-equity investors, owns 62 stations in the U.S. and Puerto Rico. Stations carry the flagship Univision and Telefutura networks, excluding the MyNetworkTV affiliate in Bakersfield, Calif. That one could be a possible candidate for sale.

The assets could have an increased value, due to the retransmission consent dollars they could command. Univision's current agreements are set to expire at the end of 2008.

While benefiting from the increased appeal of the Univision network, the stations are experiencing considerable declines in the auto category, as are other station groups.

Univision has previously said it will look to sell "non-core" radio stations and its music businesses. It operates 70 stations, as well as several record labels and music publishing outlets. The music businesses account for about 7% of company revenues, compared to 74% in TV and 17% in radio.

The company is continuing to pursue the divestitures despite troubled debt markets that have caused one station group, Nexstar, to take itself off the block--and another, LIN TV, to express doubt it will be bought any time soon.

In the second quarter, the company at-large said its net revenues were hurt by the absence of the $84.3 million it brought in a year ago from the World Cup. Not counting the World Cup-related dollars, revenues increased 8.2% to $562.2 million.