TelevisaUnivision will have a new CEO.
The Spanish-language media giant announced that Wade Davis will step down as CEO of the company and take on a new role as vice chairman of the board of directors. Daniel Alegre, former president and COO of Activision Blizzard and CEO of Yuga Labs, will take over as CEO effective Thursday, September 19.
Davis helped orchestrate the $4.8 billion merger that created TelevisaUnivision two years ago. It was not clear why the company made the sudden change, though the company said it was “part of the Board of Directors’ long-term succession planning process.”
The company has made substantial investments in both streaming and linear television, and its ViX streaming service is close to turning a profit, executives said.
“On behalf of the Board of Directors, I am pleased to welcome Daniel to TelevisaUnivision as we embark on the next phase of our strategic journey focused on further integration and optimization,” said Alfonso de Angoitia, Executive Chairman of TelevisaUnivision. “It has been a very dynamic media environment and we are grateful for what Wade has accomplished in the turnaround of Univision and the subsequent transformative merger between Univision and Televisa’s content business to create TelevisaUnivision, the leading global Spanish-language media and content company. We are proud to be stewards of a historic and prolific content factory containing the largest Spanish-language library of rich and iconic intellectual property. As we look to grow our unparalleled market position and recent investments in our linear and streaming platforms, as well as our news and sports products, Daniel is the right leader at the right time to take the helm.” His unique global operational experience working in the U.S., Mexico and Latin America in technology, digital platforms and entertainment honed over three decades is exactly what TelevisaUnivision needs to drive our next phase.”
“The media landscape is undergoing a profound transformation and TelevisaUnivision is strategically positioned to take advantage of new opportunities while remaining deeply connected to the communities we serve,” added Alegre. “The United States and Mexico represent the most valuable and populous Spanish-speaking markets in the world, a demographic that is gaining in importance both regionally and globally. Building on TelevisaUnivision’s strong foundation, global content offering, ongoing investments in cutting-edge technologies and unmatched reach, we are uniquely positioned to continue serving this vital audience. Wade and the entire TelevisaUnivision team have built a robust multi-platform media business with top-tier quality and breadth of entertainment, news and sports programming. I look forward to working with our global teams and partners to build on TelevisaUnivision’s rich history and take the company to new heights.”
“In 2020, Searchlight, ForgeLight and Liberty Global partnered with Grupo Televisa on our acquisition of Univision, with the goal of pivoting and transforming the traditional business. The success of those efforts paved the way for the merger with Televisa’s content business to create TelevisaUnivision, a business unmatched in the global media landscape today,” Davis added. “Through the efforts of our exceptional team, TelevisaUnivision has consistently achieved above-market revenue growth, outperformed the U.S. and Mexican advertising markets, and launched and grew our direct-to-consumer business, ViX, to become the largest dedicated Spanish-language streaming service in the world. We could not have chosen a better successor than Daniel, who brings an incredible track record of operational and strategic execution. He is the ideal executive to lead TelevisaUnivision into its next phase of growth. The future of the company is bright, and I look forward to supporting Daniel and the TelevisaUnivision team in my role as Vice Chairman of the Board.”
