TelevisaUnivision will have a new CEO.
The Spanish-language media giant says Wade Davis will step aside as the company’s CEO, moving into a new role as vice chairman of the board. Daniel Alegre, former president and COO of Activision Blizzard and CEO of Yuga Labs, will become CEO effective Thursday, September 19.
Davis helped orchestrate the $4.8 billion merger that created TelevisaUnivision two years ago. It’s unclear 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 invested substantially in both streaming and linear TV, and the ViX streaming service is close to profitable, executives said.
“On behalf of the Board, I am thrilled 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 accomplished in the turnaround of Univision and the subsequent transformative merger of Univision and Televisa's content business to create TelevisaUnivision, the world's leading Spanish-language media and content company. We are the proud custodians of a historic and prolific content factory that contains the largest Spanish-language library of rich and iconic intellectual property. As we look to grow our unmatched 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 operating experience working in the U.S., Mexico and Latin America across technology, digital platforms and entertainment honed over three decades is exactly what TelevisaUnivision needs to lead our next phase.”
“The media landscape is undergoing a profound transformation and TelevisaUnivision is strategically positioned to seize new opportunities while remaining deeply connected to the communities we serve,” Alegre added. “The United States and Mexico represent the most valuable and populous Spanish-speaking markets in the world, a demographic that is becoming increasingly important both regionally and globally. Building on TelevisaUnivision’s strong foundation, global content pipeline, ongoing investment in cutting-edge technology 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 the quality and breadth of world-class entertainment, news and sports programming. I look forward to working with our global teams and partners to build on TelevisaUnivision’s great history and take the company to new heights.”
“In 2020, Searchlight, ForgeLight and Liberty Global partnered with Grupo Televisa to acquire Univision, with the goal of turning around and transforming the traditional business. The success of these efforts paved the way for the merger with Televisa’s content business to create TelevisaUnivision, a business unlike any other in today’s global media landscape,” Davis added. “Thanks to the efforts of our exceptional team, TelevisaUnivision has consistently delivered 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 has an impressive 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.”