Feb 25, 2020 - Economy

Univision sells majority stake to private investors

Sara Fischer

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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Univision sells majority stake to private investors

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