Univision bait.

The media world has come calling since Univision Communications Inc. announced it was open to a sale, according to published reports.

A New York Times article stated that CBS Corp. and Walt Disney Co. had discussions with Univision executives last week over potential bids, and the Wall Street Journal reported that Mexico-based Grupo Televisa is teaming with private investors to make an offer of its own.

The Los Angeles-based company is the undisputed Spanish-language broadcasting champ, and Univision stock has jumped since Feb. 8, when the company announced it was considering a sale. Shares topped $35 late last week.

Disney executives were examining Univision's financial records, according to the Times. However, CBS chief executive Les Moonves said during an earnings call later in the week that his company wasn't seeking out "an acquisition of that size."

Televisa, Univision's largest programming supplier, needs a partner to make a bid, since only U.S. citizens can own more than 25 percent of an American broadcaster under federal law. Televisa currently has an 11 percent stake in Univision, and a Televisa director, Carlos "Slim" Domit--son of Carlos "Slim" Helu, the wealthiest businessman in Latin America--raised eyebrows when he bought $288 million worth of Univision stock last month.

The two companies have had a rocky relationship of late, and a bitter royalty showdown led Televisa chairman Emilio Azcarraga Jean and executive vice president Alfonso De Angoitia to quit their board posts as director and alternate director, respectively, at Univision last May. Televisa filled the vacancy April 19 when it named its secretary counsel of administration, Ricardo Maldonado Yanez, as a director of Univision.