Wade Davis will have the goal to enhance Univision’s digital presence, and deepen relationships with Hispanic audiences and communities
Univision seeking opportunities to innovate and accelerate growth
05 de enero de 2021
Searchlight Capital Partners, ForgeLight LLC, and Grupo Televisa announced the completion of Searchlight and ForgeLight’s acquisition of a majority ownership interest in Univision Holdings, Inc.
In connection with the transaction, Televisa will maintain its ownership interest in Univision and will convert its warrants into common stock. Televisa will also maintain its Program License Agreement and will continue to serve as an important strategic partner to the company’s new majority owners.
Wade Davis, media industry veteran and CEO and founder of ForgeLight, also assumed the role of Univision CEO, effective as of the closing of the transaction.
Led by Davis, Univision’s new leadership team plans to use the company’s extensive platform and a strong pipeline of entertainment, sports, and news content to deepen its relationship with the Hispanic community. Building upon its established leadership in Spanish-language media, Univision will also seek new opportunities to innovate and accelerate growth by creating new market-defining content for the next generation of Hispanic viewers, expanding its portfolio of advertising products, and enhancing its digital presence.
“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. Univision’s recognized and trusted brand, its consistent performance, and its leadership serving an important and growing consumer audience give us an unmatched opportunity to achieve even greater success,” said Davis.
Eric Zinterhofer, the founding partner of Searchlight Capital, added: “We are delighted to complete this transaction and look forward to partnering with Televisa, Wade, and the leadership team to realize our ambitions. We are confident that Univision’s strong content and leadership in serving the dynamic U.S. Hispanic community positions the company for continued success.”
Bernardo Gómez and Alfonso de Angoitia, Co-Chief Executive Officers of Televisa, said: “We are excited to be part of this new phase of Univision. Wade’s leadership and Searchlight’s support are the catalysts that Univision needs to solidify its position as the leading Spanish-language media organization in the United States in light of the rapid changes that the industry is facing. We are looking forward to an even closer collaboration with Univision to help it implement the many transformational initiatives that Wade has set out to achieve. We would also like to thank Haim Saban for his leadership and dedication to Univision all these years.”