Univision Communications Inc. is reportedly in merger talks with multiple potential buyers that include CBS Corp. and Time Warner Inc., the Wall Street Journal reported late Thursday.

The Spanish-language network’s ownership group, headed by media magnate Haim Saban, is asking for at least $20 billion for the company. The group bought it for $13.7 billion in 2007.

The Journal also reported that the owners had previously explored selling Univision to Mexico's Grupo Televisa, which owns a minority stake.

The news comes amid a wave of consolidation in the media world, including Comcast Corp.’s plan to buy Time Warner Cable and AT&T’s deal to buy DirecTV.