Falco disclosed his intention to step down earlier this year. Sadusky, formerly CEO of Media General and Lin TV station groups, takes the reins as of Friday and will join the Univision board of directors. Falco remains a consultant to Univision through the end of the year.
“Vince is distinctly qualified to lead UCI through the next phase of its growth, given his impressive track record of leadership, vision, deep industry experience and relationships,” said Univision chairman Haim Saban. “This is a unique moment for UCI, and we believe that we have the right strategy and team in place to execute on the opportunities in front of us. On behalf of the entire board, we look forward to working with Vince to achieve great success for UCI.”
The selection of Sadusky as CEO indicates that Univision sees its future tied largely to the broadcast TV business. It could also be a signal that the company is looking to shop its TV station group. Sadusky has experience in large-scale TV station transactions through his time at Lin and Media General. He also has experience in Spanish-language TV, having worked as CFO and treasurer of Univision rival Telemundo earlier in his career.
In 2015, Sadusky headed Media General as it went on the auction block and was the focus of a bidding war between Meredith Corp. and Nexstar, the latter of which ended up with the company in a $4.6 billion deal. Univision owns or operates some 63 TV stations and 58 radio stations.
Sadusky called Univision “a company I have long admired for its important mission to serve as a lifeline and advocate for its community, and the strong bonds it has built with its audience. I am eager to work with UCI’s talented team to enhance the Company’s leadership position and underscore its crucial role as a source of news and information.”
Univision in recent months has implemented layoffs and restructuring as it grapples with a fast-changing media marketplace. The once-dominant Spanish-language network in the U.S. has faced declining viewership, as have most established TV outlets, and heightened competition from NBCUniversal’s Telemundo.
Univision earlier this year also scrapped its long-gestating plan for an IPO, which has increased speculation about the company being up for sale.