What is Wade Davis's Net Worth? Univision Communications Inc. plans to launch a streaming service this year. You're absolutely right. Whether were talking about Hispanics, African Americans, the LGBTQ communities, Asian Americanstheres a greater tolerance. Industries 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. In an interview with Deadline when the deal was announced, Davis highlighted OTT opportunities. The company owns or operates 61 television stations and 58 radio stations, has a live event series and a robust digital audio footprint along with its Univision.com website and streaming service Univision Now. Its a huge opportunity that is completely open from a competitive standpoint.. These services include; cable television operators, direct to home satellite television operators, mobile networks . 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. He is from United States. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Univision is a truly wonderful collection of assets. I write about media, entertainment and diversity. 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. 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. At that point, it was a thriving media conglomerate bringing in some $2 billion a year in revenue from its broadcast flagship, cable channels, local TV and radio stations, and a music division. As of August 2022, Viacom is estimated to have a net worth of $15 billion. It was formed as a spin-off of the first Viacom on December 31, 2005. Their constant commitment to the Telemundo Super Series, those 10 oclock shows which have been running since back when I was there, have really helped them get to parity. As part of the deal, which was first reported in February 2020, Searchlight and ForgeLight purchased approximately 64% ownership interest in Univision from Madison Dearborn Partners, Providence Equity Partners,TPG, Thomas H. Lee Partners and Saban Capital Group. Listen to the full episode of The Revolucin Podcast featuring Joe Uva with co-hosts Ana Crandell, Diego Lastra and Court Stroud on iHeartMedia, Spotify,Apple Podcasts,Google Podcasts,Amazon Podcasts,or byclicking here. In 1983, Viacom acquired again its premium channel Showtime which later merged with the warner-AMEX movie channel. Benefits Joe Uva is a giant in the media and advertising world. 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. 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We are looking forward to an even closer collaboration with Univision to help it implement the many transformational initiatives that Wade has set out to achieve, said Televisa co-CEOs, Bernardo Gomez and Alfonso de Angoitia. Televisa, Univisions major programmer, will retain its 36%, continue to provide content and serve as a strategic partner to the new owners. . Of this total $1,750,000 was received as a salary, $2,825,000 was received as a bonus, $824,999 was received in stock options, $2,397,775 was awarded as stock and $29,255 came from other types of compensation. Viacom Inc's most recent insider trade came on May 15, 2017 by Get our latest storiesin the feed of your favorite networks. He currently resides in Lake Wales, Florida, USA. He was previously a media and tech investment banker. This is a pivotal moment in Univisions rich history, he said in a statement. The company has generated its revenue through fees from the distribution of programming and program services. 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. Subscribe to CFO Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, Survey Reveals Top 4 Agenda Items for CFOs in 2023, Number Crunch: Nine in 10 Accountants, Auditors Struggle to Find Talent, Global Caseware Surve, B Lab Global Hires from Fair Trade USA and Walmart for Key Executive Roles, By signing up to receive our newsletter, you agree to our, Webinar We are looking forward to an even closer collaboration with Univision to help it implement the many transformational initiatives that Wade has set out to achieve, said Televisa co-CEOs, Bernardo Gomez and Alfonso de Angoitia. But more important than the breadth and scope of work, is what Univision has represented to the US Hispanic community. Opinions expressed by Forbes Contributors are their own. 2 Spanish-language broadcaster in the U.S., offers programming on streaming site Peacock, which its parent company, Comcast Corp., owns. In this interview, Uva shares his advice for the new Univision leadership team, provides the same for Telemundo and discusses his prediction for how the market will evolve. Insider trading is most common in May, with the busiest year in 2005. The company comprised of MTV Networks, BET Networks, Paramount Pictures, and Paramount Pictures Home Entertainment. Viacom operated several cable television systems from its formation in 1995. $992.22K . What He Should Have Said. Send us a tip using our annonymous form. Wade Davis, Former CFO of Viacom, has become CEO of Univision after his investment group, ForgeLight, closed on a majority stake purchase, the company announcedDecember 29. ", "It's really remarkable when you look at the competitive landscape that there is no high-quality, differentiated [over-the-top] service for this audience that is at scale," he told Deadline the same week. The move results from last week's FCC approval of the sale of a majority stake in Univision Holdings by investment groups Searchlight Capital Partners and ForgeLight LLC; Davis founded and is CEO of the latter. (Podcast), Chief Executive Officer, Univision Communications Inc. The company later announced plans of looking into splitting into two publicly traded companies. Two years later, Viacom purchased a sanderling broadcasting chain, giving the company radio stations in; New York City, Washington, D.C, Houston, and San Francisco. Davis was named Viacom CFO in 2012 after seven years at the company heading up strategic planning and M&A. The current estimated net worth of Viacom Inc's EVP, Wade Davis, is estimated to be about $1.65M . "Televisa's strategic insight and global content leadership, coupled with Searchlight's tremendous experience as a long-term media investor, will help us fully realize Univision's potential as the leading Hispanic content company in the United States. This information is according to proxy statements filed for the . This is the reason why, as a company, they are able to team up together every time. And what Univision has been able to build over the years through their news operationshas been trust. While at Viacom, Davis oversaw the acquisition of free streaming service Pluto TV. Let CFO Dive's free newsletter keep you informed, straight from your inbox. Davis will be CEO. Viacom later purchased KSLA in Shreveport, Louisiana, and WHEC-TV in Rochester, New York, in separate transactions. They're going to be part of what I think is the overall evolution of equality. Daviss firm, ForgeLight, and his backers at Searchlight Capital Partners plan to acquire 64% of the media giant, with Davis becoming chief executive officer. The deal was completed on December 4, 2019. Wade Davis owns about 42,424 units of Viacom Inc common stock. (Photo by Rodrigo Varela/WireImage). The most active traders at the company are Univision Communications Inc. completed the acquisition of Content and Media Assets of Grupo Televisa, S.A.B. The $13.7 billion deal included the assumption of the companys $1.4 billion in debt. In an interview with Deadline when the deal was announced, 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. solution. February 25, 2020 9:03am. Wade Davis Chief Executive Officer at TelevisaUnivision Inc. Miami, Florida, United States 1K followers 500+ connections Join to view profile TelevisaUnivision Williams College Activity Exciting. Wade Davis (born September 7, 1985) is famous for being baseball player. However, CBS Corporation retained over-the-air broadcasting, television production, pay television subscription service and publishing assets. and bought an estimated value of $107.56M worth of shares. Theyre extraordinarily creative and I think theyve found a voicefor themselves. Family Life Wade married his long time girlfriend Katelyn Casey in 2009. The merger was completed in 2000, and in 2001 Viacom completed its purchase of Black Entertainment Television (BET). $1 Million - $5 Million. A Broadcasting & Cable Hall of Fame honoree, Uva now runs Gull Point Advisors and is the non-executive board chair for Revolver Podcasts. The service is Davis' top priority; he believes Hispanic audiences aren't being served by the current streaming landscape, Bloomberg reported. Stay competitive with the world's most innovative compensation software My advice to Wade would be to leverage that as much as he can. Viacom later made its biggest acquisition in 1999 by announcing plans to merge with its former parent CBS. 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. And the Catholic Church just barely beat the TV network. 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. 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