Univision’s new leaders introduced “America’s Hispanic Super Brand” to Madison Avenue Wednesday, promising more programming, more reach and more platforms.

The Spanish-language media company was acquired at the end of last year by an investment group led by Wade Davis, the former CFO at Viacom. Both Davis and new ad sales president Donna Speciale offered greetings in both Spanish and English during a virtual presentation.

“I want you to see the incredible opportunities I saw in this business and this audience when I decided to put everything I had into Univision," Davis said.

Also Read: Univision Joins Project OAR to Define Addressable Standards

Davis said he plans to “amplify and modernize” Univision with new platforms and new solutions. His agenda was to provide advertisers with more reach, more places and more tools to engage the Hispanic audience, he said.

“We’re going to be making investments in content that Spanish-language television has never seen in the U.S., and maybe the world. More on that in the coming week[s],” Davis said, alluding to Univision’s upfront presentation in May.

“We are going to be taking Univision from the leader in the U.S. Hispanic market to be the global leader in Spanish-language media,” he added.

Davis noted that at Viacom, he helped launch its Advanced Marketing Solutions unit.

“Many of the successes, failures and learning informed my decision to go all in on Univision . . .to unlock the power of this platform and this audience for you all,” he said. “We’re building this platform for you and we want you to be on the journey with is form day one as a company.”

Davis also talked about his new management team, including Speciale, who Davis noted had been an advanced advertising pioneer as president for advertising at Turner Broadcasting.

Speciale noted that she’d been on the job for just 10 weeks, but was already out there pitching.

“Our audience is growing. Our content is growing. Our footprint is growing and our marketing capabilities are growing. So our message today amount to a simple invitation: grow with us,” Speciale said.

Univision’s footprint expands next week with the launch of Prende TV, its free-ad supported streaming service. Univision also bought Vix and that makes the company “the only destination for Spanish language streaming in this country,” she said.

Prende TV offers will launch with 45 channels and 30,000 hours of content. Univision expects it to have 100 channels by year end. The company will be investing $100 million in marketing on Prende TV.

For advertisers, Prende TV offers non-skippable targeted ads and frequency management, Speciale said. Advertisers including McDonald’s, Dunkin’, Clorox, Toyota, Chase, Johnson & Johnson, Coca-Cola, Verizon, Lilly and Walmart have already signed up,she said.

Speciale also noted that she recently hired two of her former Turner colleagues, Dan Riess and Dan Aversano to build the company’s advanced advertising and branded content capabilities.

Ahead of the upfront, Speciale told advertisers that Univision and big events in the second and third quarter they could sponsor, including a Latin Grammy’s Honors Women special on Mothers Day, a pop-up concert in May, the Premios Juventud youth awards this summer and tons of soccer, with almost 100 matches in 90 days.

Special also said that Univison’s morning show, Despierta América, will be starting a Sunday edition.

Speciale noted that there are about 1,900 advertisers on English-language network TV and only about 400 of them advertising to the Hispanic audience in their language.

“Marketing to the HIspanic audience has to be a business imperative, not a nice to have,” she said. “Partnering with Univision is the easiest way to make it happen.”

Wade Davis, Univision's new CEO, named his senior management team, bringing several well-known industry executives to the Spanish-language media company.

Also Read: Wade Davis and Searchlight Close Deal for Majority Univision Stake

Former ViacomCBS exec Pierluigi Gazzolo was named president and chief transformation officer at Univision; Luis Silberwasser, last with Telemundo, was named president of the Univision Television Networks Group; and former Turner ad sales head Donna Speciale was named president of advertising sales and marketing.

Amy Tenbring and Glenn Dryfoos were promoted to co-interim general counsel at Unvision; Jessica Rodriguez will continue as CMO and Friday Abernethy was promoted to executive VP of content distribution and partnerships.

Univision’s former chief legal and corporate affairs officer Jonathan Schwartz, president of distribution Henry Ahn, and president of ad sales and marketing Steve Mandala are leaving the company.

Read Also: Frontera Wines Joins Sponsors for Univision’s Latin Grammys

“Today begins a transformation for Univision. One that will see us accelerate our position as the leading U.S. Hispanic media company as we launch new products and services that will drive value for our U.S. Hispanic audience and for our advertising and distribution partners, who want to reach and engage with this critical audience,” said Davis, the former Viacom CFO, whose led the acquisition of Univision by ForgeLight and Searchlight.

“Achieving our objectives will require new ways of working together, diversity of perspectives and in some cases new talent and skillsets. We began the evolution of our team with the appointment of world class leaders to our board of directors to bring together skillsets and diversity that Univision has never had at the board level. Today we are announcing a new, industry leading executive leadership team that exemplifies the traits of innovation, collaboration, inclusivity and accountability that will be central to our transformation. Each of these leaders understand the need to optimize Univision’s core businesses to meet its audience where they are and evolve its content, platforms and products to reach the market in new ways,” Davis said.

Searchlight Capital Partners and Wade Davis’ ForgeLight LLC said they completed their acquisition of a controlling 64% stake in Univision Holding Inc.

Financial terms were not disclosed, but the Wall Street Journal reported that the companies paid $526 million and assumed the company’s debt.

Also Read: FCC Approves Univision Sale to SearchLight

Davis, a former CFO for Viacom, has become CEO of Univision, succeeding Vince Sadusky.

Televisa said it will maintain its 36% ownership in Univision and convert warrants it holds into common stock. Television will also continue to be a major supplier of programming to Univision.

“I am honored to be partnering with Searchlight and Televisa to begin this exciting new era for Univision,” said Davis.

Also Read: New Directors Join Univision Board Ahead of Takeover

“Televisa’s strategic insight and global content leadership, coupled with Searchlight’s tremendous experience as a long-term media investor, will help us fully realize Univision’s potential as the leading Hispanic content company in the United States. Univision’s recognized and trusted brand, its consistent performance, and its leadership serving an important and growing consumer audience give us an unmatched opportunity to achieve even greater success,” Davis said.

Univision was the dominant Spanish-language television company for years.
After going private in a  $13 billion deal led by Haim Saban in 2007, Univision was saddled by billions in debt.

Comcast’s Telemundo has turned the Spanish-language market into a horse race in recent years by poaching rights to big sports events including the World Cup and offering more current primetime programming versus Univision’s more traditional telenovelas.

“We are excited to be part of this new phase of Univision. Wade’s leadership and Searchlight’s support are the catalysts that Univision needs to solidify its position as the leading Spanish-language media organization in the United States in light of the rapid changes that the industry is facing,” said Bernardo Gomez and Alfonso de Angoitia, co-CEOs of Televisa.  

“We are looking forward to an even closer collaboration with Univision to help it implement the many transformational initiatives that Wade has set out to achieve. We would also like to thank Haim Saban for his leadership and dedication to Univision all these years,” the Televisa executives said.

Wade Davis’ ForgeLight LLC and Grupo Televisa announced that four new independent directors have been appointed to a reconstituted board for Univision Holdings.

ForgeLight and Searchlight Capital in February agreed to buy a majority stake in Univision. Televisa will remain a major stakeholder after the transaction closes.

The new directors are Marcelo Claure, CEO of Softbank Group International; Oscar Munoz, executive chairman of United Airlines Holdings, Maria Cristina "MC" Gonzalez Noguera, senior VP of global public affairs for The Estee Lauder Cos., and Gisel Ruiz, former chief operating officer of Walmart’s Sam’s Club.

“These four directors are among the most prominent and accomplished business leaders in America today and we are honored they have agreed to join us in driving the next phase of growth for Univision,” said Wade Davis, CEO and founder of ForgeLight and who will become Univision’s CEO when the acquisition closes.

“We worked extremely hard to recruit the most value-added and complementary directors to significantly expand the Board’s governance so it is representative of the community Univision serves," Davis said. "All four of these new directors bring a passion for our mission. They understand Univision’s extraordinary potential as a platform to drive innovation, build market-defining content and deepen its relationship with one of the most important audiences in the United States.” 

The new Board members will join representatives of ForgeLight, Searchlight and Televisa as directors. Those members will be named at a later date, the company said.

About seven months after putting itself on the block, Univision Holdings, parent of Univision Communications, said Tuesday that a group including private investment firm Searchlight Capital Partners and operating and investment company ForgeLight, headed by formerViacom chief financial officer Wade Davis, have agreed to purchase a majority interest in the Spanish-language broadcaster.

Terms of the deal were not disclosed, but previous reports speculated that the group would pay about $800 million for the majority stake, valuing Univision at under $10 billion. 

According to Univision, Spanish-language programmer Televisa Communications will retain its 36% interest in Univision, with the private equity buyers purchasing a 64% interest in the broadcaster from Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group. Davis, founder of ForgeLight, will become CEO of Univision after the deal closes, expected later this year.

As part of the agreement, Televisa’s programming deal with Univision will remain intact and will not expire unless Televisa voluntarily sells down a portion of its ownership stake, at which point the programming deal would remain in effect for 7.5 years.

The deal ends what has been more than a decade-long odyssey for Univision, which went private in 2006 in a leveraged buyout valued at about $13.7 billion.

Univision reportedly turned down an offer in 2017 from Liberty Media’s John Malone that would have valued the company at $13.5-to-$15 billion. In March 2018 the company withdrew a planned initial public offering because of what it said at the time were unfavorable market forces.  That IPO was expected to raise about $1 billion and would have valued the company at about $20 billion.

The withdrawal of the IPO touched off a series of events at the Spanish-language broadcaster, starting with the resignation of CEO Randy Falco and CFO Francisco Lopez-Balboa in March of that year. In the following months, several top executives, including former chief revenue officer Tonia O’Connor and chief content officer Isaac Lee, left the company for other opportunities. Univision shed some assets -- it sold its online unit Gizmodo Group to Great Hill Partners in April -- and endured some layoffs in July 2018.

In May 2018, Univision hired former Media General chief Vincent Sadusky as its CEO,  and the company has enjoyed ratings growth and successfully weathered a nine-month blackout to Dish Network customers last year. In a press release, Sadusky said Univision is a “re-energized and refocused company.”

“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,” Sadusky said in the press release. “Our talented operating team has transformed Univision to be strategically, operationally and financially stronger than it has been in years. 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. ...I remain committed to leading the company and supporting a smooth and successful transition over the coming months to ensure Univision is best positioned for the future ahead.”

Univision hired Morgan Stanley, Moelis & Co. and LionTree Advisors in July to explore strategic alternatives, including a sale. The auction reportedly attracted interest from several potential buyers, including Spanish language programmer Hemisphere Communications and Los Angeles based fund Platinum Equity. According to Bloomberg News, Hemisphere dropped out of the running in January. 

Searchlight Capital also has some experience in the TV business. Its founder Eric Zinterhofer was chairman of Charter Communications from 2009 to 2016. Prior to forming Searchlight in 2010, Zinterhofer was a partner at Apollo Global Management, Charter Communications’ largest bondholder when it as winding through bankruptcy in 2009. Apollo swapped that debt for equity in Charter and later sold that stake to cable legend John Malone’s Liberty Media in 2013. 

“Univision has a proven track record of success in reaching and serving the U.S. Hispanic community, who represent 1 in 5 Americans and growing," Zinterhofer said in a press release. "Most recently, Univision and its talented employees have made great strides under the leadership of Vince Sadusky and the stewardship of chairman Haim Saban and the full Sponsor Group. The strong support of Televisa, a premier content producer in the Spanish speaking world, and Wade Davis, a proven executive in areas which include advanced advertising and digital distribution, further enhances our confidence in Univision’s bright future.”

Davis thanked Univision's ownership group for steering the company along its current path, adding that he sees continued growth ahead.

"I am proud to partner with Searchlight and Televisa to lead Univision at such an exciting point in its history," Davis said in a press release. "Univision’s leadership and connection with one of the most important audiences in the U.S. today creates an amazing platform to drive innovation, build market-defining content and create an even deeper relationship with its audience. Vince and the entire Univision team have done an outstanding job of refocusing the company over the past 18 months, which has further enhanced the company’s position as a market leader in Spanish-language media and created this incredible opportunity going forward.”

Morgan Stanley, LionTree Advisors and Moelis & Co. are acting as financial advisors to Univision, and Cravath, Swaine & Moore, Covington & Burling and Sidley Austin are serving as legal counsel to Univision.

BofA Securities is serving as the financial advisor to Searchlight, Paul Weiss Rifkin Wharton & Garrison is acting as its legal counsel.

Guggenheim Securities is serving as financial advisor to ForgeLight, and Willkie Farr & Gallagher and Proskauer Rose are acting as its legal counsel.

Goldman Sachs is serving as financial adviser to Searchlight and ForgeLight as a group.

Allen & Co. is acting as the financial advisor to Televisa, and Wachtell, Lipton, Rosen & Katz and Pillsbury Winthrop Shaw Pittman are serving as its legal counsel.

Emphasizing the company’s focus on analytics, Viacom named Kern Schireson as executive VP and chief data officer, a new position.

Schireson, who had been executive VP of data strategy and consumer intelligence, will be responsible for Viacom’s data capabilities for its domestic and international businesses, including its TV, theatrical and digital business units. The exec also helped create Viacom Vantage, the company’s data driven advertising initiative.

He will report to executive VP and CFO Wade Davis and work closely with the company’s leadership. Priorities include accelerating the use of data science at Paramount Pictures and incorporating data into the company’s events and consumer products businesses.

"Kern has assembled a consumer intelligence team that is second to none in the media and entertainment industry," Viacom CEO Bob Bakish said. "I could not be more excited by the opportunity to leverage our unique capabilities across each of our brands."

Read more at broadcastingcable.com.