The consortium led by former Viacom Chief Finiancial Officer Wade Davis and investment company Searchlight Capital Partners is in the lead to acquire the company after submitting the highest bid in an auction.
The deal could value the broadcaster between $8 billion and $10 billion, the source said, adding there was no certainty that a deal would be reached.
The Wall Street Journal first reported the news on the talks.
Earlier in 2019, the company said that it is exploring a possible sale and had hired advisers.
Davis did not immediately respond to a Reuters request for comment, while Searchlight Capital Partners and Univision declined to comment.
By Greg Roumeliotis
