Former Viacom CFO Wade Davis and Partners Complete Univision Acquisition
Deal for the two investment companies to acquire a 64% majority stake in the Spanish-language broadcaster was reached in FebruaryReid Nakamura | December 29, 2020 @ 4:06 PM
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Former Viacom CFO Wade Davis’ ForgeLight and Searchlight Capital have closed their acquisition of Univision, the two investment companies announced Tuesday.
The deal, first announced in February, gives the two companies a 64% majority stake in Univision, the country’s top Spanish-language broadcaster. Televisa, the Mexican media company which supplies much of Univision’s programming, retains its 36% share in the company and will continue to serve as an “important strategic partner” to the new owners.
By Reuters Staff
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MEXICO CITY (Reuters) - Searchlight Capital Partners and ForgeLight have completed their majority stake purchase of Univision, the largest Spanish-language U.S. broadcaster, while Mexico’s Televisa maintains its minority stake, Univision said on Tuesday.
Searchlight and ForgeLight acquired 64% of the company from an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group, Univision said in a statement.
The deal could value Univision at $8 billion to $10 billion, a source familiar with the matter said in February.
Televisa, Mexico’s biggest broadcaster, would keep its existing 36% stake in Univision. Televisa would also retain its programming license agreement with Univision, the statement said.