Univision Communications Inc., owner of the most-watched Spanish language TV network in the U.S., said Executive Chairman Haim Saban will assume added duties after the resignation of Chief Executive Officer Joe Uva.
Uva, 55, told the board he decided not to renew his employment agreement in order to seek other opportunities, New York-based Univision said today in a statement. The company plans to seek a successor, according to the statement.
Saban, 66, is executive chairman of Univision and part of the group that bought the company for $12.6 billion, a takeover completed in March 2007. Saban is owner of the Power Rangers brand and was reported on Feb. 11 to be considering a bid for Hit Entertainment Ltd., owner of Thomas the Tank Engine.
Uva has been Univision’s CEO since April 2007. He previously held positions with Omnicom Group Inc. and Time Warner Inc.’s Turner Broadcasting.
To contact the reporter on this story: Rob Golum in Los Angeles at email@example.com
To contact the editor responsible for this story: Anthony Palazzo at firstname.lastname@example.org