Spanish-language network Univision is expected to buy Barry Diller's TV stations for about $1 billion to $1.2 billion, the Wall Street Journal reported today (Thursday) citing unnamed people close to the talks.

The stations, which currently carry programming from Diller's USA Networks, are located on the outskirts of several major markets.

They would give Univision a second channel in the heavily Latino-populated cities of New York and Los Angeles. Although those channels are relatively weak UHF outlets, they are widely available on cable systems, which are required to provide them to subscribers under the FCC's must-carry rules. The WSJ cautioned that while Univision has emerged as the likely buyer, the sale could still fall apart.

Source: Studio Briefing