Spanish-language broadcaster Univision Communications said it would extend CEO Randy Falco’s term through January 2018, a nod to the growth the company has enjoyed since the former AOL and NBCUniversal executive came on board in 2011.
Under Falco, Univision has invested in bringing its content to new and nontraditional audiences. The company, the largest Spanish-media operation in the United States, has helped to launch El Rey Network, a new English-language cable outlet led by director Robert Rodriguez; Fusion, a news-and-entertainment cable network jointly owned with ABC News; and streaming-video hub UVideos. Univision has also grown more aggressive under Falco’s aegis, making the case to advertisers that a growing audience of Spanish-speaking Americans deserves more consideration — and ad dollars.
Univision’s backers include Saban Capital’s Haim Saban; Madison Dearborn Partners; Providence Equity Partners; TPG; and Thomas H. Lee Partners. Those investors bought the company in 2007 for $13.7 billion. Reports surfaced last year that Univision had held early talks with CBS Corp. and Time Warner about those companies acquiring the broadcaster for a price said to be more than $20 billion.
“Randy and his team have set Univision apart from its peers, making our company an invaluable partner to marketers and distributors, providing our audiences more and better content than ever before, and creating opportunities for our talented employees,” said Haim Saban, Univision’s chairman, in a statement. “The board is thrilled that Randy will continue to lead Univision.”
