Feb 25, 2020 - Economy & Business

Univision sells majority stake to private investors

Photo: Robyn Beck/AFP/Getty Images

Univision, the largest Spanish-language broadcaster in the United States, announced plans Tuesday to sell the majority of its company to a group of investors led by former Viacom CFO Wade Davis. Deal terms were not disclosed.

Why it matters: The company had been struggling to find a strategic buyer since it said it was putting itself up for sale last year.

Details: Searchlight Capital Partners and ForgeLight will acquire a majority stake (64%) in Univision, per a statement from the network. Mexican TV giant Televisa will retain its ~36% stake in Univision.

Media veteran Wade Davis will become CEO of Univision upon closing, replacing Vince Sadusky, who had been with the network's CEO since 2018.

Go deeper: Univision cancels IPO plans, sale process likely

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Axios

Updated 9 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

Global: Total confirmed cases as of 9 a.m. ET: 11,648,268 — Total deaths: 538,828 — Total recoveries — 6,328,930 — Map.
U.S.: Total confirmed cases as of 9 a.m. ET: 2,938,750 — Total deaths: 130,310 — Total recoveries: 924,148 — Total tested: 36,032,329 — Map.
Axios-Ipsos Coronavirus Index: Our response is becoming more polarized.
Business: Rising cases pause U.S. economic recovery — Hospitals, doctors are major recipients of PPP loans.

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Fadel Allassan

2 hours ago - Technology

Pompeo: Trump administration is "looking at" TikTok ban

Secretary of State Mike Pompeo told Fox News' Laura Ingraham on Monday that the Trump administration is "looking at" a ban on Chinese social media app TikTok.

Why it matters: Lawmakers have long expressed fears that the Chinese government could use TikTok to harvest reams of data from Americans — and actions against the app have recently accelerated worldwide, highlighted by India's ban.

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Sara Fischer, Neal Rothschild

3 hours ago - Economy & Business

"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.