NEW YORK--(BUSINESS WIRE)--Univision Communications Inc. (UCI), the leading media company serving Hispanic America, today announced that it has extended the Company’s employment agreement with President and Chief Executive Officer Randy Falco for an additional two years, through January 31, 2020.
“Randy has been the architect of UCI’s evolution since 2011, guiding the Company’s tremendous expansion, steadily improving Univision’s financial performance and significantly improving the balance sheet by paying down debt,” commented Haim Saban, Chairman of the Board of Directors of UCI. “With Randy’s vision, UCI has remained the undisputed leader in Spanish-language media and at the same time successfully diversified into English-language media to provide young, diverse Americans with the content they crave in the formats they seek. Our portfolio now includes a powerful collection of Spanish-language and English-language digital offerings that provide even more exciting opportunities for distributors, partners and our employees. But perhaps most important is Randy’s authentic and unwavering commitment to the U.S. Hispanic community, which has amplified UCI’s voice and purpose as an advocate for Hispanic America, especially during difficult times for our nation. The Board is delighted that Randy will continue to lead Univision to new levels of success in the future.”
With Falco as President and CEO, UCI has expanded its reach to an estimated 108 million average monthly unduplicated viewers and has achieved record earnings and revenue levels, driven by successful content monetization strategies, including increased subscription fees and leveraging the Company’s digital footprint. UCI has also continued to strengthen its balance sheet through strong debt refinancing actions and maturity extensions. Under Falco’s leadership, UCI has also successfully expanded its portfolio by investing in emerging technologies to create unique customer experiences and innovative new platforms, including Univision NOW, UCI's direct-to-consumer subscription video service; the Univision Creator Network, the No. 1 U.S. Hispanic focused multichannel network; and the Fusion Media Group, which includes some of the most beloved digital-first brands. Notably, UCI’s increased investment in sports has grown cable network UDN (Univision Deportes Network) into the home for soccer in the U.S. and the No. 1 Spanish-language sports network nationwide in just five years since its launch. UCI has also continued to broaden and reinvigorate its traditional media assets portfolio, which now includes 12 broadcast and cable networks and 123 local television and radio stations that deliver the high-quality programming and attract the largest Hispanic audiences across the country.
About Univision Communications Inc.
Univision Communications Inc. (UCI) is the leading media company serving Hispanic America. The Company, a leading content creator in the U.S., includes Univision Network, one of the leading networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the country available in approximately 90% of U.S. Hispanic television households; UniMás, a leading Spanish-language broadcast television network available in approximately 85% of U.S. Hispanic television households; Univision Cable Networks, including Galavisión, the most-watched U.S. Spanish-language entertainment cable network, as well as UDN (Univision Deportes Network), the most-watched U.S. Spanish-language sports cable network, Univision tlnovelas, a 24-hour Spanish-language cable network dedicated to telenovelas, ForoTV, a 24-hour Spanish-language cable network dedicated to international news, and an additional suite of cable offerings - De Película, De Película Clásico, Bandamax, Ritmoson and Telehit; Univision Local Media, which owns and/or operates 60 television stations and 64 radio stations in major U.S. Hispanic markets and Puerto Rico; and Univision Now, a direct-to-consumer, on demand and live streaming subscription service. The Company also includes the Fusion Media Group (FMG), a division that serves young, diverse audiences. FMG includes two cable networks: news and lifestyle English-language network FUSION TV and UCI’s interest in El Rey Network, a general entertainment English-language cable network; Univision.com, the most-visited Spanish-language website among U.S. Hispanics; Uforia, a music application featuring multimedia music content; as well as a collection of leading digital brands that span a range of categories: technology (Gizmodo), sports (Deadspin), music (TrackRecord), lifestyle (Lifehacker), modern women’s interests (Jezebel), news and politics (Splinter), African American news and culture (The Root), gaming (Kotaku), and car culture (Jalopnik). FMG also includes the Company’s interest in comedy and news satire brands The Onion, Clickhole and The A.V. Club. Headquartered in New York City, UCI has content creation facilities and sales offices in major cities throughout the United States. For more information, please visit corporate.univision.com.