(Podcast). Univision announced plans to explore its options last summer. Viacom became a mass media company rather than simply a distribution company. Companies This documentary-style series follows investigative journalists as they uncover the truth. Take a look at the YouTube channels and youll see some of the truly brilliant content that's being created by Gen Z Hispanics. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. As former Viacom CFO Wade Davis, the founder of ForgeLight, gets set to become CEO of Univision Communications later this year . Benefits Grow and expand for the well-being of the communityand also for marketers. In a deal announced in February, Searchlight and ForgeLight acquired 64% of Univision from an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group. In all seriousness, I think Wade has a unique opportunity. Wade is a United Nations Women Global Impact Champion, a Ms . Stay competitive with the world's most innovative compensation software Bloomberg Markets Americas. document.write(new Date().getFullYear()); Salary.com. Id say, put the pedal to the metal and keep doing what you're doing at a faster pace. Wade Davis estimated Net Worth, Biography, Age, Height, Dating, Relationship Records, Salary, Income, Cars, Lifestyles & many more details have been updated below.Let's check, How Rich is Wade Davis in 2019-2020? This is a pivotal moment in Univisions rich history, he said in a statement. In a deal announced in February, Searchlight and ForgeLight acquired 64% of Univision from an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group. Back in 2007/2008, when we were doing a lot of research, we kept hearing that the reason people like Univision isnt because of the novelas or the Mexican soccer or the specials, but because, Univision protects my rightsas a Hispanic in the United States.. Wade consulted for Google, P&G, Viacom & Bacardi. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. The two companies Viacom Inc. and CBS corporation succeeded the first Viacom, and they were both owned by National Amusements, which is a theater company controlled by businessman Summer Redstone. Wade Davis, Former Viacom CFO, And Partners Close Acquisition Of Univision Investment firms Searchlight Capital Partners, ForgeLight, founded by former Viacom CFO Wade Davis, with. In an interview with Deadline when the deal was announced, Davis highlighted OTT opportunities. While at Viacom, Davis oversaw the acquisition of free streaming service Pluto TV. Earlier reports had private equity firm Platinum in the mix and said Platinum had tried to recruit former CBS chief Joe Ianniello to front a bid. Hispanic millennials and Gen Z Hispanics are much more committed to action. Wade Davis Dario Acosta/Courtesy of Viacom. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. In 2002 Viacom also acquired the remaining shares of infinity broadcasting radio chain. solution. Former Viacom CFO Wade Davis' ForgeLight and Searchlight Capital have closed their acquisition of Univision, the two investment companies announced Tuesday. By subscribing, I agree to the Terms of Use and Privacy Policy. With your extensive experience in the space, how do you see the Hispanic media and advertising market evolving? ET, CFO FP&A Close-up: finance functions octopus, CFOs step up as companies look for strategic guidance, Economists push back estimated recession date: NABE, Walgreens shrinks headquarters, cites hybrid work, CFO best practices: Biggest lessons for 2023, Digital transformation in todays finance landscape, How CFOs are using sustainability goals to drive investments, Goldman Sachs mulls strategic alternatives for consumer business after shortfall. In . Industries Its a huge opportunity that is completely open from a competitive standpoint.. $992.22K on May 15, 2017. Mr. Davis joined Viacom in December 2005 as Senior Vice President of Mergers and Acquisitions and assumed the additional duties of Strategic Planning and Corporate Development in 2009. HOUSTON - NOVEMBER 12: (L-R) CEO of Univision Joe, Uva poses with celebrities Andy Garcia and Emilio Estefan at the 9th Annual Latin GRAMMY Awards Person Of The Year honoring Gloria Estefan held at the George R. Brown Convention Center on November 12, 2008 in Houston, Texas. Over the next decade, theyparticularly Gen Z members of the communitywill have a greater influence on what the industry looks like than any generation before them. Sadusky sold Univisions English-language websites, a portfolio once known as Gawker Media Group that includes sites like Deadspin, but the company still reportedly has about $7.3 billion in debt. Investment firms Searchlight Capital Partners, ForgeLight, founded by former Viacom CFO Wade Davis, with Mexicos Grupo Televisa announced Tuesday theyve completed the acquisition of giant Spanish-language broadcaster Univision. Davis will be CEO. The second Viacom comprised of Viacom media networks and paramount pictures. Thorough reviews have been conducted to assure this data accurately reflects disclosures. These services include; cable television operators, direct to home satellite television operators, mobile networks . Send us a tip using our annonymous form. Why? The company comprised of MTV Networks, BET Networks, Paramount Pictures, and Paramount Pictures Home Entertainment. You will be redirected back to your article in, Twitter Down: Elon Musks Social Network Suffers Outages On Wednesday Morning, AMC CEO Adam Aron Defends New Sightline Ticket Pricing, Acknowledges Substantial Change To The Status Quo For U.S. Moviegoers, AMC Entertainment Q4 Sales Dip, Losses Widen; CEO Sees 2023 Recovery But Says Shareholders Must Approve Key Cash-Raising Measures, An AI Voice That Sounds Like Ari Emanuel Will Kick Off Endeavor Earnings Call As Company Posts Solid Q4, Creed III Eyeing Franchise-Record 3-Day Debut Of $38M-$40M: Weekend Preview, Dune: The Sisterhood Star Shirley Henderson & Director Exit Amid Creative Overhaul, WGAW Exec Director David Young On Medical Leave; Ellen Stutzman To Lead Contracts Talks, HBOs Bill Maher, On CNN As Part Of Its New 9 PM Strategy, Predicts Biden Beats Trump In 24. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. It was later renamed CBS Enterprises in 1970 and later spun into its own company in 1971. and Shari Redstone, Director 2023 Deadline Hollywood, LLC. The sale, engineered by then-CEO Jerrold Perenchio in the middle of a bidding process that also included Televisa, was sudden and surprised Wall Street. But more important than the breadth and scope of work, is what Univision has represented to the US Hispanic community. Send us a tip using our annonymous form. Insider trading is most common in May, with the busiest year in 2005. Salaries Wade Davis's income source is mostly from being a successful . Wades leadership and Searchlights support are the catalysts that Univision needs to solidify its position as the leading Spanish-language media organization in the United States in light of the rapid changes that the industry is facing. Viacom Inc's most recent insider trade came on May 15, 2017 by The company later announced plans of looking into splitting into two publicly traded companies. Viacom Executive Vice President and Chief Financial Officer Wade Davis appeared on Cheddar Tuesday following release of first quarter 2019 financial results that spelled out the breadth of Viacom's evolution. I write about media, entertainment and diversity. Univision has advantages in the news, but Telemundo is winning in digital. That it will cost him $1,000 an hour. Find open jobs near you. But it also took full advantage of the go-go market conditions, which were prompting a range of private equity holders to expand their footprints in many sectors of the economy. . The. (adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address. ", Under Davis' leadership, Univision seeks to use its existing platforms and "pipeline of entertainment, sports and news content to deepen its relationship with the Hispanic community.". Prior to joining Netflix, Wade consulted for Google, P&G,Viacom & Bacardi. Davis will be CEO. Viacom later made its biggest acquisition in 1999 by announcing plans to merge with its former parent CBS. They also had one television station, WAST, in Albany, New York. ViacomCBS recently announced Ianiello is exiting the company in March, replaced by former NBCUniversal executive George Cheeks. On August 13, 2019, the second merger between Viacom and CBS was announced, which created a combined company, ViacomCBS. NYC Wade Davis 2016. Univision Communications Inc. plans to launch a streaming service this year. Opinions expressed by Forbes Contributors are their own. Viacom Inc. (Video & Audio Communications) was an American multinational mass media conglomerate with interests primarily in film and television. Between 2015 and 2018, he served as a board member of streaming device giant Roku. I write about media, entertainment and diversity. 2023 Deadline Hollywood, LLC. The combined company was called ViacomCBS, with Bob Bakish as President and CEO and Shari Redson as the chairwoman of the new company. $200 per post at $10/CPM. All proxy statements are public filings made available to the general public by the SEC. Get our latest storiesin the feed of your favorite networks. This resulted in Viacom return to operating radio stations after it originally exited the broadcast radio business in 1997. Its investors, including Saban Capital Group, Madison Dearborn Partners and Providence Equity Partners, had long been seeking an exit and, before the coronavirus pandemic sent markets into a tailspin, considered an IPO. A Univision spokesperson declined Bloomberg's requests for comment. Family Life Wade married his long time girlfriend Katelyn Casey in 2009. From back in the 20th century through today, the companys first point of contact has been through a local television or radio stationor more recently through a website or an app. Mexicos Grupo Televisa SAB, the companys longtime partner, will retain its 36% stake in Univision. Wade is a United Nations Women Global Impact Champion, a Ms. Foundation for Women board member and strategic partner to the MeToo Movement and Times Up. This is the reason why, as a company, they are able to team up together every time. Get our latest storiesin the feed of your favorite networks. Sign up for Deadline's Newsletter. Mexican mass media company Televisa has retained its approximate 36% stake in Univision's fully diluted equity capital, Univision said. You're absolutely right. Former Viacom CFO new CEO at Univision Published Jan. 4, 2021 Jane Thier Courtesy of Univision Dive Brief: Wade Davis, Former CFO of Viacom, has become CEO of Univision after his investment group, ForgeLight, closed on a majority stake purchase, the company announced December 29. Topics include: Financial strategy, operations, compliance, budgeting, cost analysis, forecasting, Topics covered: risk management, cloud computing, AI & automation, data analysis, cybersecurity & privacy, FP&A, blockchain, IoT, and much more. Charles E. Phillips, Jr., Director, How to Apply for a Job During the Coronavirus Pandemic, For How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, Stocks Pare Drop as Traders Assess Data, Fedspeak: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. Deadline is a part of Penske Media Corporation. As of August 2022, Viacom is estimated to have a net worth of $15 billion. Televisa, Univisions major programmer, will retain its 36%, continue to provide content and serve as a strategic partner to the new owners. I don't think it happens overnight. CBS and Viacom officially announced their re-merger deal on August 13, 2019. At Viacom (now ViacomCBS), he helped integrate free streaming service Pluto TV, a highly successful acquisition. You, For Univision Names Four Independent Directors To Its Board With Takeover Nearly Complete, Nancy Cartwright Launches CRE84U Entertainment, Sets Projects With 'That '70s Show' Co-Creator Mark Brazill & Former Televisa Prez Jose Baston, 'Love Island' Season 2 Premiere Paces Monday Ratings; Univision Edges RNC Coverage On Broadcasters. Former NFL Player Wade Davis is an educator and advisor on gender, race, and orientation equality, and currently the VP of Inclusion for Product at Netflix. Find out what you should earn with a customized salary estimate and negotiate with confidence. However, Viacom has stood the taste of time, and despite going through so many changes, it still remains the best media network for its subscribers. WORTH Published on February 9, 2020 . Daviss firm, ForgeLight, and his backers at Searchlight Capital Partners plan to acquire 64% of the media giant, with Davis becoming chief executive officer. We want to hear from you! Signup for Breaking News Alerts & Newsletters. . SHARE. In the 1970s and 1980s, Viacom was a distributor of CBS television series and also distributed syndicated television programs. Wade was the NFLs first LGBT inclusion consultant where he worked at the intersection of sexism, racism, and homophobia to build inclusive leadership strategies and national engagement initiatives. Wade is a new board member of the Ms. Foundation for Women, as well as a United Nations Women Global Impact . He left when the Viacom-CBS merger closed last December after recently garnering plaudits for bringing Pluto TV into the Viacom fold, considered a prescient deal given the intense industry focus on streaming. Scroll below and check more details information about Current Net worth as well as Monthly/Year Salary, Expense, Income Reports! Save my name, email, and website in this browser for the next time I comment. Joe Uva is a giant in the media . If one of your old teammates at NBC Telemundo, called you and asked for advice, considering the different situations for Telemundo and Univision, what's the first thing that you would say? Its really remarkable when you look at the competitive landscape that there is no high-quality, differentiated OTT service for this audience that is at scale. Many companies rise up, become famous, and after some time, they collapse. Davis was named Viacom CFO in 2012 after seven years at the company heading up strategic planning and M&A. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. This report is not for commercial use. Univision has had a rocky road since going private in 2006. New York, NY 10036. . "I am honored to be partnering with Searchlight and Televisa to begin this exciting new era for Univision," Davis, who left Viacom following its merger with CBS, said in a statement. Than simply a distribution company a customized salary estimate and negotiate with confidence famous and... Will cost him $ 1,000 an hour most common in May, with the world 's most innovative software. Followers: $ 100 per post at a $ 5/CPM Impact Champion, a successful... Viacom later made its biggest acquisition in 1999 by announcing plans to merge with former... Is a new board member of the Ms. Foundation for Women, well!, mobile networks say, put the pedal to the general public by SEC! Winning in digital a company, ViacomCBS he helped integrate free streaming service this year, created. 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