Searchlight, ForgeLight to Acquire Univision Majority Stake

RADIO ONLINE | Tuesday, February 25, 2020

Univision

Spanish-language broadcaster Univision Communications has agreed to sell a majority stake to the private-equity firm Searchlight Capital Partners and a ForgeLight, a company founded by a former Viacom Inc. senior executive Wade Davis. Davis and Searchlight are acquiring up to a 64% of Univision for an undisclosed price, estimated at $10 billion including debt. Mexico City's Grupo Televisa will retain its nearly 36% stake.

Davis will become CEO of Univision following the completion of the deal, which is subject to regulatory approvals. The sellers, including Los Angeles billionaire Haim Saban, initially had been seeking $10 billion for the Miami-based company, reports the Los Angeles Times, which is significantly less than the $13.7 billion it paid in 2007 for the company.

"We are confident that we have found the right path forward with Searchlight and ForgeLight," said Saban in a statement.

Univision had about $7.2 billion in debt late last year, according to regulatory filings. It owns 58 radio stations, plus 89 affiliates.