UPDATED with news of Univision laying off 20 employeesUnivision Communications is preparing for a restructuring and a change at the top as the company confirmed CEO Randy Falco is preparing his exit, just four months after he signed a two-year contract extension.Word of Falco's plan to retire comes one day after Univision acknowledged that it has tabled plans for the IPO that it first registered for in 2015. The Wall Street Journal reported Wednesday night that the Univision board was...
In his seven years at Univision, Randy Falco has presided over big changes. He planted Univision firmly in digital turf by buying Gawker out of bankruptcy for $135 million, purchasing a 40.5% controlling stake in the parent of humor-oriented The Onion for $27 million and forming a video streaming JV with Lionsgate–all in 2016. Netflix also licensed series “El Chapo” with a second window for Univision that year.
The Spanish-language U.S. TV media outfit even diversified into English-language content with its Fusion cable network/digital platform, though Disney exited a Fusion partnership in 2016. Falco keeps Fusion, which rebranded as Splinter in July 2017, aimed at a broad millennial audience.
Univision’s total audience is sizeable as its TV, radio and digital platforms average a measured monthly unduplicated audience of 89 million persons. Its reach extends to other TV properties including UniMas, formerly Telefutura, as well as cable channel Galavision and sports network Univision Deportes.
With Univision owned by private equity investors since 2007, a corporate merger or initial public stock offering to cash out could be on the horizon. Univision flirted with an IPO, a plan that could be impacted should speculation be true that emerged in 2017 that John Malone may be looking to make an investment in the company.
Prior to joining Univision in 2011, Falco was CEO at AOL and earlier a 30-year veteran of NBC Television. He has an undergraduate business degree and MBA from Iona College.