Searchlight Capital Partners and ForgeLight have completed their acquisition of a majority stake in Univision, with Grupo Televisa maintaining its stake and program licensing agreement with the U.S. Hispanic media company.
Former Viacom exec Wade Davis, the CEO and founder of ForgeLight, has become CEO of Univision. “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,” Davis said. “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.”
Davis added: “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. I am proud to inherit leadership of such an incredible team, and I know that together we can create even greater value for our advertisers, distributors and investors, and, most importantly, create innovative and compelling content for our audiences. This is a pivotal moment in Univision’s rich history, as the company plays an increasingly important role in educating audiences about key issues relevant to the Hispanic community and encouraging and elevating the dialogue on social justice and equality, while also continuing to provide entertainment when viewers need it most. I couldn’t be more excited to get started. I would also like to thank Haim Saban and all the prior owners for their stewardship of this iconic business.”
Investors including Searchlight and ForgeLight acquired about 64 percent of Univision from an investor group consisting of Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group. Televisa has retained its approximate 36 percent stake in Univision’s fully diluted equity capital.