Providence Equity plans write-down of fund value

PROVIDENCE – Providence Equity Partners Inc., the private equity firm that specializes in media-company buyouts, plans to write down the value of an investment fund, The Wall Street Journal reported on its Web site last week.
Providence Equity Partners VI LP raised $12.1 billion in 2007 and invested in Spanish-language broadcaster Univision Communications Inc. and television-station owner Newport Television LLC, according to the newspaper.
The investment firm, based in Providence, plans an 8 percent write-down for the fourth quarter of 2008, the newspaper reported, citing unidentified partners in the fund. &#8226