Majority stake in Spanish-language media giant Univision sold
Univision Communications Inc. is turning the page after a turbulent 14-year reign of private equity firms that soured on their investment.
Davis, the 47-year-old former chief financial officer of Viacom, departed that company in early December when Viacom completed its merger with CBS Corp. The former investment banker, who spent nearly 14 years at Viacom, owner of MTV, Comedy Central, BET and Nickelodeon, last year formed his own firm, ForgeLight LLC, and began recruiting investors.
“I am no stranger to the headwinds in the domestic television business,” Davis said in an interview. “But I really look at Univision as the single most attractive asset in media today. Univision has a powerful and unique relationship with its audience.” Univision boasts a range of assets, including the broadcast television networks Univision and UniMás and cable channels Galavision and TUDN, a sports channel. The company also owns more than 50 radio stations and more than 60 local television stations, including its flagship, KMEX-TV in Los Angeles.
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