TelevisaUnivision is getting a new CEO.
The Spanish-language media giant says that Wade Davis is stepping aside as chief executive of the company, shifting to a new role as vice chairman of the board. Daniel Alegre, the former president and COO of Activision Blizzard and CEO of Yuga Labs, will become CEO effective Thursday Sept. 19.
Davis helped to 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 that it was “part of the Board of Directors’ long-term succession planning process.”
The company has put substantial investment into both streaming and linear TV, with the company’s ViX streaming service nearing a profit, executives have said.
“On behalf of the Board, I’m excited 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’s 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 world’s leading Spanish-language media and content company. We are proud stewards of a storied 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 the 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 across 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 poised to seize new opportunities while staying deeply connected to the communities we serve,” Alegre added. “The U.S. and Mexico represent the most valuable and populous Spanish-language markets in the world, a demographic that is becoming more prominent both regionally and globally. Building on TelevisaUnivision’s solid foundation, global content pipeline, 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 created a strong multi-platform media business with world-class 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 great history and take the Company to new heights.”
“In 2020 Searchlight, ForgeLight and Liberty Global partnered with Grupo Televisa in our acquisition of Univision, setting out to turnaround and transform the legacy business. The success of those efforts paved the way for the merger with Televisa’s content business to create TelevisaUnivision – a business without comparison in the global media landscape today,” added Davis. “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 have grown our direct-to-consumer business, ViX, to become the largest dedicated Spanish-language streaming service in the world. We could not have picked a better successor than Daniel, who brings an incredible track record of operational and strategic execution. He is the ideal executive to take TelevisaUnivision into its next phase of growth. The Company’s future is bright, and I look forward to supporting Daniel and the TelevisaUnivision team in my role as Vice Chairman of the Board.”
Read the original article here