CEO of OMD Worldwide to be Univision CEO |
|
|
|
Published
:
Wed, 28 Feb 2007 01:17
|
LOS ANGELES (AP) - The private investor group that acquired Univision Communications Inc. said Tuesday it has named Joe Uva, president and chief executive of OMD Worldwide, to succeed the Spanish-language broadcaster's CEO when the acquisition closes.Uva, 51, will take over for A. Jerrold Perenchio, Univision's longtime chairman and chief executive, on April 1, Broadcasting Media Partners Inc. said in a statement.The terms of Uva's contract were not disclosed. Uva will remain based in New York when he takes control of Los Angeles-based Univision, the investor group said.The $12.3 billion acquisition, which still requires Federal Communications Commission approval, is expected to close next month.New York-based OMD, a unit of Omnicom Group Inc., is one of the world's largest media buying agencies. Uva has been president and CEO of OMD the last five years. Before that, he spent 17 years at Turner Broadcasting System Inc.At Turner, Uva handled all advertising sales and marketing for several of the company's television properties, including TBS Superstation, TNT, and Turner Sports. He also oversaw strategy and investments in online and interactive television.'Univision has enormous growth opportunities ahead of it, and we are very pleased that an executive with Joe Uva's broad media experience, leadership abilities, and entrepreneurial qualities will be driving our efforts to build value and take the company to the next level,' the investor group said in a statement.The consortium of investors that acquired Univision includes Saban Capital Group, Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group and Thomas H. Lee Partners.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Fitch expects to cut Univision ratings 