Univision Communications Inc., the Spanish-language media company owned by Los Angeles billionaire Haim Saban, has postponed plans for a 2015 initial public offering due to the disappointing performance of media-company stocks and a sluggish market for first-time share sales, according to the Wall Street Journal.

The publication reports that the company’s board met Thursday and agreed to leave its options open for an IPO early next year.

Sour outlooks from media heavyweights including Walt Disney Co. and Time Warner Inc. have recently pressured industry valuations and highlighted the growing unpredictability of the television business for investors, the Wall Street Journal also says.