He had functioned as a sort of chief operating officer of that entertainment company under CEO Bob Bakish, but found a similar role was not available to him in the merged entity. “Looking ahead to 2020, we have begun the year with the largest ratings lead over our competitors in years,” CEO Vince Sadusky said in a statement, “and anticipate a record first quarter in political advertising revenue, as candidates understand that 32 million eligible U.S. Hispanics will be the largest racial or ethnic minority group in the electorate.”. 0. Wade Davis, a former finance manager at Viacom, doesn’t speak Spanish. Wade Davis, founder of ForgeLight and the former chief financial officer of Viacom, will become CEO of Univision upon close of the transaction. Wade Davis, fundador da ForgeLight, se tornará CEO da Univision após a conclusão do negócio. Univision says Q4 revenues in the segment fell by 8% to $66.1 million from $71.9 million a year ago. The sale allows a bevy of investors to move on from Univision after a long ownership term that some had hoped to end much earlier. The community needs a scaled, differentiated and relevant service," said Davis. “This group of owners will be able to support the incredible team at Univision to deliver even more value to its advertisers, distributors and most importantly, its audience.”. Davis é um veterano na indústria de mídia e tecnologia e, mais recentemente, foi CFO da Viacom. By continuing to use our services, you accept our new privacy policy and terms of use. Should the owner of Univision speak Spanish? The new owners said they intended to accelerate growth, expand the company’s portfolio of advertising products, and enhance its digital presence. While some may wonder if the entrepreneur's language skills are really important, the fact that he will be the new owner of the large North American network of Latino content, Univision Communications Inc., puts the Latino Representation debate back on the table. Davis, who has a reputation as a steady leader of media companies, decided to leave Viacom in advance of its merger with CBS Corp. late last year. Two months after hanging out his ForgeLight LLC investment shingle, former Viacom CFO Wade Davis has reached a deal to acquire a majority stake in Univision. Wade Davis, founder of ForgeLight and the former chief financial officer of Viacom, will become CEO of Univision upon close of the transaction. By. Cumulus Media’s Brian Philips Tests Positive For Coronavirus. Linkedin. Email. (Dario Acosta/Courtesy of Viacom). They are among the smartest and most value additive investors in our industry and there is no one I would rather partner with in this transaction,” said Davis in a prepared statement. Univision's owners, including Haim Saban, have been desperate to get out of their 2007 investment in Spanish-language programming. an investor group led by former Viacom CFO Wade Davis had reached a deal to acquire a 64% stake in the media giant.
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