An investor group led by former Viacom CFO Wade Davis said Tuesday it has closed its acquisition of a 64 percent stake in Spanish-language media giant Univision Communications.
The group includes private equity firm Searchlight Capital and media- and consumer technology-focused operating and investment firm ForgeLight, which Davis launched as CEO last December after leaving Viacom due to its recombination with CBS Corp.
Davis is now taking over as CEO of Univision, which has most recently been run by Vincent Sadusky who took over the firm after Randy Falco retired at the end of 2018.Mexican TV giant Televisa previously elected to retain its stake of about 36 percent in Univision. "I am honored to be partnering with Searchlight and Televisa.
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