February 25, 2020 (New York) – International law firm Proskauer represented ForgeLight LLC, an operating and investment company led by former Viacom CFO Wade Davis, in connection with its signing of a definitive agreement to acquire a majority ownership stake in Univision Holdings, Inc. The deal is expected to close later this year. Mr. Davis will become CEO of Univision upon closing.
In addition to ForgeLight, the acquiring group includes Searchlight Capital Partners, a global private investment firm.
Univision is the leading Hispanic media company in the U.S. It operates the Univision and UniMás broadcast networks, cable networks TUDN and Galavisión and numerous television and radio stations in major U.S. Hispanic markets and Puerto Rico, as well as the digital assets Univision.com and streaming content service Univision Now, among other properties.
Proskauer is a market leader in negotiating the media-related transactions that shape the way consumers access, view, and interact with content. The Univision deal continues Proskauer's history of advising on the industry's most significant deals, which most recently have included representation of The Stars Group (TSG) in connection with the formation of a first-of-its-kind media and sports wagering partnership with FOX Sports, including the launch of FOX Bet and the acquisition by FOX of a minority interest in TSG; Blackstone Tactical Opportunities in connection with its participatory investment in the acquisition of the YES Network from The Walt Disney Company; Discovery in connection with its strategic partnership with the PGA TOUR leading to the launch of the direct-to-consumer product known as "Golf TV", and Discovery's follow-on acquisition of Latin American Golf, S.L., which operates Golf Channel Latin America.
The Proskauer team was led by partner and Technology, Media & Telecommunications Group co-head Rob Freeman and included associates Wai Choy and Kevin Milewski (TMT), Charlie Peskowitz (Mergers & Acquisitions) and Jordan Horowitz (Mergers & Acquisitions).