Searchlight Capital Partners and ForgeLight have together acquired a 64% majority stake in Spanish-language broadcast network Univision. The financial terms of the deal were not disclosed.
The pair of investment companies acquired the stake from Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group — a.k.a. the “Sponsor Group.”
Wade Davis, the founder of ForgeLight, is set to become Univision’s CEO. Davis was Viacom CFO before the MTV parent company re-merged with CBS in late 2019. Vince Sadusky, the current CEO of Univision, will exit the company after the transaction closes, an insider knowledgeable with the deal tell TheWrap.