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

Go deeper

Axios
Updated 45 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 a.m. ET: 32,995,554 — Total deaths: 996,695 — Total recoveries: 22,850,774 — Map.
  2. U.S.: Total confirmed cases as of 1:30 a.m. ET: 7,115,008 — Total deaths: 204,756 — Total recoveries: 2,766,280 — Total tests: 101,298,794 — Map.
  3. States: 3 states set single-day coronavirus case records last week
  4. Health: The long-term pain of the mental health pandemic
  5. World: India second country after U.S. to surpass 6 million cases
Go deeper (<1 min. read)Arrow
Rebecca Falconer
3 hours ago - Politics & Policy

Democrats demand Trump release his tax returns after NYT report

Compilation images of House Nancy Pelosi and President Trump. Photo: Joshua Roberts/Getty Images/Chip Somodevilla/Getty Images

Democrats called on President Trump to disclose his tax returns following a New York Times report alleging he paid $750 in federal income taxes in 2016 and 2017 and nothing in 10 of the past 15 years.

Details: Trump said the report was "total fake news," that he's unable to release the returns as they're "under audit" by the IRS, "which does not treat me well." House Speaker Nancy Pelosi (D-Calif.) said in a statement the report "provides further evidence of the clear need" for a House lawsuit to access the tax returns and "ensure the presidential audit program is functioning effectively, without improper influence."

Go deeper (1 min. read)Arrow
Axios
Updated 4 hours ago - Politics & Policy

Former Trump campaign manager Brad Parscale hospitalized

Brad Parscale, the former campaign manager for President Trump's re-election campaign, at Drake University in January in Des Moines, Iowa. Photo: Tom Brenner/Getty Images

Fort Lauderdale police arrived at former Trump campaign manager Brad Parscale's home on Sunday after his wife called and said he was threatening to harm himself, Florida officials confirmed to Axios.

Details: Fort Lauderdale Police Sgt. DeAnna Greenlaw told Axios officers responded to a report of "an armed male attempting suicide" just before 4 p.m. local time.

Go deeper (<1 min. read)Arrow