Searchlight, ForgeLight Complete Univision Deal
• Investment firms Searchlight Capital Partners, LP, ForgeLight LLC and Grupo Televisa, S.A.B. announced the formal completion of Searchlight and ForgeLight’s acquisition of a majority ownership interest in Univision Holdings, Inc. It was nearly a year ago when Searchlight and ForgeLight initially announced their intention to acquire a 64 percent majority ownership interest in Univision Holdings, Inc. from an investor group that included Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group. Televisa will maintain its 36 percent ownership interest in Univision and convert its warrants into common stock. Televisa will also maintain its Program License Agreement and will continue to serve as an important strategic partner to the company’s new majority owners.
Wade Davis, CEO & Founder of ForgeLight (left), has also assumed the role of Univision CEO, replacing Vince Sadusky. “I’m honored to be partnering with Searchlight and Televisa to begin this exciting new era for Univision,” said Davis. “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. 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 continued, “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’m 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.”
Eric Zinterhofer, Founding Partner of Searchlight Capital, added, “We are delighted to complete this transaction and look forward to partnering with Televisa, Wade and the leadership team to realize our ambitions. We are confident that Univision’s strong content and leadership in serving the dynamic U.S. Hispanic community positions the company for continued success.”
