Viacom is looking at the possibility of acquiring Telemundo Communications, the second largest Spanish-language broadcaster in the U.S. (behind Univision Communications), the Los Angeles Times and the Wall Street Journal reported Monday citing sources close to the companies. Miami-based Telemundo is owned by Sony Corp. and AT&T's Liberty Media, which have reportedly put a price tag of more than $4 billion on the company. Telemundo chief Jim McNamara told the WSJ that an "initial contact" had been made between his company and Viacom. "That is the extent of it," he said. "To say that talks are going on would be an overstatement."