The majority-stake acquisition of Spanish-language media giant Univision by investment firms Searchlight Capital Partners and ForgeLight LLC., and media company Grupo Televisa, S.A.B., comes at a pivotal moment in the company's history as the corporation looks to solidify its dominance in Hispanic American households.
The deal also ushers in a transition of leadership as current CEO Vince Sadusky steps down, making way for the Founder and CEO of ForgeLight LLC., Wade Davis, to take his position, as Univision prepares to strengthen its extensive media platform, according to Businesswire.
“I want to thank Vince Sadusky and the entire team for their work to refocus our strategy on the company’s deep roots in the U.S. Hispanic community and for building a robust platform to support future innovation," Davis told the Businesswire.
Searchlight and ForgeLight now have a 64% majority ownership interest in Univision Holdings, Inc. and Televisa will maintain its current ownership interest and Program License Agreement, which includes a 36% stake in Univision's fully diluted equity capital, according to the Businesswire.
“I am honored to be partnering with Searchlight and Televisa to begin this exciting new era for Univision,” Davis told the Businesswire. “Televisa’s strategic insight and global content leadership, coupled with Searchlight’s tremendous experience as a long-term media investor, will help us fully realize Univision’s potential as the leading Hispanic content company in the United States."
The new leadership team seeks to build innovative market-defining content for the Hispanic community by expanding Univision's portfolio in the areas of news, sports and entertainment on television, audio and digital platforms, according to the Businesswire.
Currently, Univision Communications Inc. offers a variety of broadcast programming including Univision, UniMás, Galavisión and TUDN.
From May 25, 2020 to Sept. 6, 2020, Univision ranked No. 1 in ratings in primetime television regardless of language and the company's digital platforms saw video growth in double-digits year-over-year, according to the Businesswire.
The company also owns and operates 61 television stations in the U.S., 58 radio stations including an additional 89 affiliate stations, and digital platforms Univision.com and Univision Now, according to the Businesswire.
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