Univision Communications Inc. said Wednesday that its shareholders have approved its acquisition by an investor group that includes Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners, and Saban Capital Group.

The deal will pay shareholders $36.25 in cash and is worth a total of $13.7 billion including the assumption of $1.4 billion in debt. Completion of the transaction, expected in the spring, remains subject to regulatory approvals and customary closing conditions.

Univision is the largest Spanish-language media company in the United States.

Shares of the Los Angeles-based broadcaster were trading up 6 cents at $34.50 in early trading Wednesday.