A report says that Univision Communications Inc. may choose a replacement for outgoing Chief Executive Jerrold Perenchio by next week.

The New York Post said the nation’s largest Spanish broadcaster plans to name a new CEO by April, when company’s sale to a group of private-equity investors is completed. Co-founder Perenchio told the company he plans to retire upon completion of the sale, the Post reported.

Univision and its new owners are currently looking for a bi-lingual executive with close ties to Mexico to allow the company to expand into that region.

Shares in Univision were up 7 cents to $36.01 in afternoon trading Wednesday.