Univision, the highest-rated Spanish television network in the United States, announced on Tuesday that it has completed the sale of a majority stake in its stake to investment companies Searchlight Capital Partners and ForgeLight LLC.
The operation, announced last February, has now closed after all requirements have been met, including regulatory approval.
The new owners will own 64% of Univision’s capital, while Mexican media group Televisa will retain 36% of the ownership it had to date and the agreement it has signed with Univision for the distribution of the content in the United States. States, will retain. .
Executive Wade Davis, former chief financial officer of Viacom media conglomerate and founder of ForgeLight, will become Univision’s new CEO with the closing of the transaction.
“I am honored to partner with Searchlight and Televisa to begin this new and exciting phase for Univision,” Davis said in a statement, assuring that, with the support of the two companies, the television channel will fully realize its potential. utilize. as “America’s Leading Hispanic Content Company.”
“Univision’s recognized and trusted brand, consistent performance and leadership in serving a significant and growing consumer audience provide us with an unparalleled opportunity for even greater success,” he added.
Based in New York but with many of its operations near Miami, Univision is the most powerful Latin American network in the United States.
Its main competitor in that market is Telemundo, owned by the NBC Universal group, which is in turn controlled by media and telecommunications giant Comcast.