The new ownership, in partnership with Televisa, says it will enhance Univision’s digital presence, deepen relationships with Hispanic audiences and communities, and create market-defining content for the next generation of Spanish-speaking viewers. Televisa will maintain its existing ownership and the Program License Agreement with Univision. Veteran media executive Wade Davis becomes CEO of Univision.
An investor group led by former Viacom CFO Wade Davis has agreed to acquire a 64% majority stake in Spanish-language media giant Univision Communications for an undisclosed sum. The group includes private equity firm Searchlight Capital and ForgeLight, with Davis set to run the company as CEO upon deal close. Mexican TV giant Televisa has elected to retain its stake of about 36%.
Former Viacom Inc. CFO Wade Davis is finalizing an agreement to buy Univision Communications in a deal that could be announced as soon as Monday, according to people familiar with the matter. Davis and his backers at Searchlight Capital Partners are expected to contribute about $800 million for a controlling stake in the Spanish-language media giant. The transaction would value Univision at less than $10 billion including debt, the people said.
Univision Communications is in exclusive talks with a bidding group that includes former Viacom CFO Wade Davis for a sale that could value the Spanish-language broadcaster at close to $10 billion including debt, according to people familiar with the matter.
Several firms have expressed interest in acquiring Univision Communications, according to people familiar with the matter, a deal that would give the Spanish-language broadcaster’s private-equity owners a long-sought exit. Hemisphere Media Group, Platinum Equity and former Viacom CFO Wade Davis are among those that have made overtures.