Former Univision Chairman Jerry Perenchio Dies

RADIO ONLINE | Thursday, May 25, 2017 | 1:03pm CT

Jerry Perenchio

Los Angeles billionaire and former Univision Chairman Jerry Perenchio died Tuesday at age 86 of lung cancer. Perenchio purchased the company in 1992 for $550 million and built it into a giant Spanish-language radio and TV network. He sold the company in 2007 for $13.5 billion and Forbes recently estimated his net worth at $2.7 billion. In a statement, Univision President/CEO Randy Falco said, Jerry was a media trailblazer, true legend and inspiration to everyone who was lucky enough to meet or work with him."

Falco continued, "He played a significant role in shaping the media and entertainment industry as we know it today, bringing incredible foresight, compassion and respect for a community -- Hispanic America -- that sought to be represented and that had never before been served in such a meaningful way. Jerry founded and built Univision from the ground up -- his imprint and visionary leadership will always be felt by so many of us at Univision, as well as our community. He leaves a lasting legacy on our Company, and will always be part of the Univision family. Our deepest condolences go out to his family and loved ones."

Prior to Univision, Perenchio was a music talent agent and executive with MCA Records. In the 1970s, he promoted sports and live events, including the historic matchup between heavyweights Muhammad Ali and Joe Frazier, as well as the "Battle of the Sexes" tennis match between Bobby Riggs and Billie Jean King in September, 1973.