A year from now, there likely won't be a separate Univision (NYSE:UVN) to talk about. That's too bad. While the company has sometimes been overvalued, with the ups and downs that almost every growing company goes through, I'm still a believer in the long-term potential of this leading Spanish broadcaster.

Apparently, plenty of other folks are believers, too. Even before the company talked about possibly selling itself, there's been chatter about who might step up and buy the channel. Public media companies like CBS (NYSE:CBS), News Corp (NYSE:NWS), and Disney (NYSE:DIS) could all get value out of it. There's also the usual array of private-equity suspects, including the Carlyle Group, Bain, KKR, and Texas Pacific.

Perhaps not too surprisingly, GrupoTelevisa (NYSE:TV) has officially thrown its hat into the ring as well. In addition to a recent filing that disclosed an ownership stake in Univision on the part of one of Televisa's directors, this provider of much of Univision's programming has aligned itself with the Carlyle-Bain-KKR-Blackstone camp.

Univision's actual results haven't changed too much. Revenue was up about 4% this quarter, as decent results in television (more than 10% growth at the network level, and more than 8% growth with local stations) offset weaker results in radio and music. Adjusted operating income (excluding depreciation) climbed 16%, and reported earnings were up 22%, while pro forma net income was up 27%.

As much as I may have a soft spot for an independent Univision, I can see where a buyer might do better with the assets -- particularly if that buyer's another network. After all, one of Univision's biggest challenges is getting advertisers to pay up for Spanish-speaking eyeballs, which might be a skill readily found at Fox, CBS, or ABC.

Even though the stock has already risen on the presumption of a sale, it's not unreasonable to think that a winning bid will have to be higher still. All the same, I don't think we're talking about major stakes anymore, so I'd just as soon look elsewhere for investment ideas.

Further Foolishness with a foreign flare:

Media isn't the only game played around the globe. For other international investment ideas, check out the Fool's International Report.

Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).