Premieres in Dallas, Houston, San Antonio and Austin are the latest in a series of local-focused moves, including TV news investments from New York to California, expansion of digital, radio and live events businesses and more.
The Wall Street Journal reports that Univision Communications is exploring a sale of Fusion Media Group, which houses websites including Gizmodo and Deadspin, as it pursues a companywide restructuring following a leadership change, people familiar with the matter say. The move would be a reversal for Univision, best known as the largest Spanish-language TV broadcaster in the U.S. Over the past several years, it has invested in digital assets and sought to diversify its audience by buying English-language websites that appeal to younger, bilingual Hispanic-Americans. Journal subscribers can read the full story here.
Two years after its splashy acquisition of the former Gawker sites,Univision’s Fusion Media Group is careening into a new era of belt-tightening and downsizing. Will Penske or Diller be enticed to help them unload what’s left?
The television company has, over the last week, tapped a new CFO, canceled a planned public offering and axed some high-level staffers. It turns out that the company has had some professional help in making these tough decisions. In December, Univision brought in management consulting firm Boston Consulting Group to help the company chart a path forward.
Twenty Univision staffers were laid off last Friday as part of cost-cutting measures, including high-level executives at the Univision-owned Fusion Media Group, which consists of the Fusion TV network, as well as digital publishers, including The Onion, Gizmodo and The Root.
Despite having extended CEO Randy Falco’s contract through 2020 last November, Univision has now confirmed that he will retire by the end of 2018. The accelerated retirement plan comes during a 24-hour period when the company ditched its long-planned IPO stratregy,
Univision Communications is canceling a long-in-the works plan for an initial public offering, and it has replaced CFO Francisco Lopez-Balboa, a former Goldman Sachs banker who was hired three years ago to help the Spanish-language broadcaster with its IPO. He’s been replaced by Peter Lori who has been a deputy under Lopez-Balboa.
The new contract covers all the Spanish-language broadcaster’s stations and networks including the Univision Network, UniMás, Galavisión, Univision Deportes Network, El Rey Network, FOROtv, TLNovelas, Telehit, Bandamax, De Pelicula and De Pelicula Clasico.
The Hispanic-focused TV network wants a minority investor to put $200 million into its Fusion Media Group.