After several weeks of speculation about a possible sale, Univision confirmed that Searchlight and ForgeLight will acquire 64% of its shares, while Televisa will retain the remaining 36%, in addition to the Programming License Agreement it has with the US company. Wade Davis, former Viacom CFO, will be in charge of Univision’s executive direction once the operation is completed.
According to Univisión, the aim of the acquisition is to ‘accelerate its growth, expand its advertising products portfolio, substantially improve its digital presence and continue using the Televisa product, the best in its class’.
‘At Televisa Group we are very proud and excited with the announcement of a new control structure at Univisión, and we thank Searchlight Capital Partners and ForgeLight for the invitation to continue being their strategic partners and main content providers, with which we have agreed to keep our shareholding position and, in its terms, the content license agreement with Univisión’, they reported from Televisa.
‘I am honoured to be partnering with Televisa and Searchlight to help steward Univision into this next phase’, said Davis. ‘Televisa has a shared history with Univision dating back many years and a deep strategic relationship today. The context, insight and strategic content that Televisa brings to Univision have been key to the company’s success’. Then, he added that this group of owners ‘will be able to support the incredible team at Univision to deliver even more value to its advertisers, distributors and most importantly, its audience’.