Wade Davis
Searchlight Capital Partners, LP, a global private investment firm, and ForgeLight LLC, an operating and investment company focused on the media and consumer technology sectors, will acquire a majority ownership interest in Univision from all stockholders of Univision other than Grupo Televisa, S.A.B. Terms of the transaction were not disclosed.
Televisa has elected to retain its approximate 36 percent stake in Univision’s fully diluted equity capital on an as-converted basis. Televisa’s Program License Agreement with Univision will remain in effect and will not expire unless Televisa voluntarily sells down a substantial portion of its ownership stake, at which point the agreement would remain in place for an additional 7.5 years.
Under the terms of the acquisition, Searchlight and ForgeLight will purchase the remaining 64 percent ownership interest from the other stockholders of Univision, led by an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group.
Searchlight and ForgeLight will partner closely with Televisa and Wade Davis, founder of ForgeLight, who will become CEO of Univision upon close of the transaction. The transaction, which is subject to customary closing conditions including receipt of regulatory approvals, is expected to close later this year.
“We are a re-energized and refocused company, and today marks the start of an exciting new chapter with partners that recognize the excellent position Univision is in. Both Searchlight and Wade are wholly supportive of Univision’s core mission to entertain, inform and empower Hispanic America and fully embrace the commitment and special bond we have with our audience. We have made important moves—strengthened programming, secured many major distribution deals, closed our strongest Upfront in four years, divested non-core assets, and enhanced our news, sports, local and digital offerings. Our partnership with Televisa has never been stronger and continues to create an unstoppable, world-class content machine, as evidenced by Univision being one of only two broadcast groups to grow viewership this season,” said Vince Sadusky, Chief Executive Officer of Univision.
