Univision, the highest-rated Hispanic television network in the United States, announced Tuesday that it has completed the sale of a majority stake in investment firms Searchlight Capital Partners and ForgeLight LLC.
The operation, already announced in February last year, is now closed after all requirements have been completed, including approval by regulators.
The new owners will control 64% of Univision’s capital, while Mexican media group Televisa will retain 36% of its current ownership and maintain its agreement with Univision to disseminate its content in the United States. .
Executive Wade Davis, former chief financial officer of the Viacom media conglomerate and founder of ForgeLight, becomes the new CEO of Univision as the transaction closes.
“I am honored to partner with Searchlight and Televisa to begin this exciting new phase for Univision,” Davis said in a statement, adding that with the support of the two companies, the television channel will be able to “operate on Univision.” fully ”its potential. as “America’s Top Hispanic Content Company.”
“Univision’s recognized and trusted brand, its consistent performance and leadership in serving a significant and growing audience, gives us an unparalleled opportunity for even greater success,” he added.
New York-based Univision, but much of its operations near Miami, is the strongest Hispanic network in the United States.
Its main rival in this market is Telemundo, owned by the NBC Universal group, which in turn is controlled by the media and telecommunications giant Comcast.