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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Primary elections test impact of protests, coronavirus on voting

Election official at a polling place at McKinley Technology High School in Washington, D.C. Photo: Drew Angerer/Getty Images

In the midst of a global pandemic and national protests over the death of George Floyd, eight states and the District of Columbia held primary elections on Tuesday.

Why it matters: Joe Biden, the presumptive Democratic nominee, needs to win 425 of the 479 delegates up for grabs in order to officially clinch the nomination. There are a number of key down-ballot races throughout the country as well, including a primary in Iowa that could determine the fate of Rep. Steve King (R-Iowa).

Updates: George Floyd protests continue past curfews

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday across the U.S. for the eighth consecutive day, prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: Protesters were still out en masse even as curfews set in in New York City and Washington, D.C.. Large crowds took a knee at Arizona's state capitol nearly an hour before the statewide 8 p.m. curfew, and a peaceful march dispersed in Chicago ahead of the city's 9 p.m. curfew.

RNC officially plans to move 2020 convention to new city

President Donald Trump, Vice President Mike Pence and their families on the final night of the Republican National Convention in Cleveland, Ohio, on July 21, 2016. Photo: David Hume Kennerly/Getty Images

The Republican National Committee is scrambling for a new convention host city after President Trump said North Carolina’s coronavirus restrictions will make Charlotte unworkable for the crowds he’s counting on.

Driving the news: The organization is still hoping to conduct the convention's "official business" in Charlotte, an RNC spokesperson said. But the part that most Americans think about the convention — the spectacle of the speakers and the president accepting the Republican nomination itself — will be held in a different state with more relaxed COVID-19 laws.