NEW YORK--(BUSINESS WIRE)--Univision Communications Inc. (UCI), the leading media company serving Hispanic America, today announced that Peter H. Lori has been named Chief Financial Officer, effective immediately. Lori, who has served as Executive Vice President, Finance, Chief Accounting Officer and Deputy Chief Financial Officer for UCI, succeeds Francisco (Frank) J. Lopez-Balboa, who has decided to leave the company to pursue other opportunities. Lori will report to Randy Falco, President and Chief Executive Officer.
“Pete has been a critical member of our senior finance team for the last 13 years, and has the right combination of corporate finance and accounting expertise, clear leadership skills and deep knowledge of our company to drive financial growth at UCI,” said Falco. “He has been instrumental in helping us to reduce our debt and improve our capital structure, and we are confident our finance organization will continue to thrive under his leadership.”
Falco continued, “I would like to thank Frank for his tremendous contributions to Univision since joining in 2015, during which he led a strong and capable finance and accounting organization in addition to managing our relationships with many of our external stakeholders. Given that our path to pursue a public offering has changed, this is an opportunity for Frank to begin the next chapter of his career. We wish him the best in his future endeavors.”
“I am excited to have the opportunity to lead our financial organization and to continue working with the talented and driven individuals at UCI,” said Lori. “Throughout my time here I’ve been focused on helping to strengthen our financial results for the benefit of our audiences, employees and key stakeholders, and I remain committed to meeting our strategic goals. With a platform of strong 2017 results to build on, I look forward to working with Randy and the rest of the team to position our Company for long-term success.”
Lori, who most recently served as Executive Vice President, Finance, Chief Accounting Officer and Deputy Chief Financial Officer for UCI, joined the Company in 2005 and has held a number of senior roles throughout his tenure with the Company. Prior to joining UCI, Lori served as an audit partner at KPMG, LLP for three years, and partner at Arthur Andersen, LLP, where he worked for fifteen years. Lori holds a bachelor of science degree in accounting from Montclair State University.
Univision Holdings, Inc. also announced that, due to prevailing market conditions, it has requested the withdrawal of its Form S-1 on file with the U.S. Securities and Exchange Commission (the “SEC”) for a proposed initial public offering of shares of its Class A common stock. The Registration Statement has not been declared effective by the SEC, and no securities have been or will be sold pursuant to the Registration Statement.
About Univision Communications Inc.
Univision Communications Inc. (UCI) is the leading media company serving Hispanic America. The Company, a chief content creator in the U.S., includes Univision Network, one of the top 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 84% 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; as well as an investment in El Rey Network, a general entertainment English-language cable network; Univision Local Media, which owns and/or operates 62 television stations and 58 radio stations in major U.S. Hispanic markets and Puerto Rico; Univision Now, a direct-to-consumer, on demand and live streaming subscription service; Univision.com, the most-visited Spanish-language website among U.S. Hispanics; and Uforia, a music application featuring multimedia music content. The Company also includes the Fusion Media Group (FMG), a division that serves young, diverse audiences. FMG includes news and lifestyle English-language cable network FUSION TV, and 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.