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Viacom’s Ex-Finance Chief to Buy Majority Stake in Univision

  • Wade Davis’s firm to make purchase with Searchlight Capital
  • Grupo Televisa to retain 36% of Spanish-language broadcaster
Photographer: Tim Rue/Bloomberg
Updated on

Former Viacom Inc. Chief Financial Officer Wade Davis agreed to buy a majority stake in Univision Communications Inc., a deal that follows years of failed attempts to sell the Spanish-language broadcaster or take it public.

Davis’s firm, ForgeLight, and his backers at Searchlight Capital Partners plan to acquire 64% of the media giant, with Davis becoming chief executive officer. Mexico’s Grupo Televisa SAB, the company’s longtime partner, will retain its 36% stake in Univision.