By: Chris Ariens
Randy Falco, who has been president and CEO of Univision since 2011, is tacking on at least another two years to his deal, taking him through January 31, 2020.
“With Randy’s vision, UCI has remained the undisputed leader in Spanish-language media and at the same time successfully diversified into English-language media to provide young, diverse Americans with the content they crave in the formats they seek,” said Haim Saban, Chairman of the Board of Directors of UCI.” Saban says Falco has been “an advocate for Hispanic America especially during difficult times for our nation.”
Falco’s extension comes as UCI, which is privately held, announced Q3 earnings of $778.2 million, up +5.9 percent vs. Q3 2016. Net income was $104 million in the quarter, compared to net loss of $30.5 million in Q3 2016.
Univision has long been considering an initial public offering or selling a significant stake of the company which has grown significantly in the last two years, including the acquisitions of the former Gawker Media sites and The Onion, and taking full ownership of Fusion.
Source: Ad Week