Covington Advises Univision in Sale of Majority Stake to Searchlight and ForgeLight

Covington Advises Univision in Sale of Majority Stake to Searchlight and ForgeLight

February 25, 2020

WASHINGTON—Covington represented Univision Holdings, Inc. in its definitive agreement to sell a majority ownership interest to private investment firms Searchlight Capital Partners, LP and ForgeLight LLC.

Under the terms of the acquisition, Searchlight and ForgeLight will purchase a 64 percent interest from Univision stockholders while Televisa, a leading media company in the Spanish-speaking world, will retain its 36 percent stake. The transaction, which is subject to customary closing conditions including receipt of regulatory approvals, is expected to close later this year.

The most recognized and trusted brand among U.S. Hispanics, Univision is a top destination for national and local Spanish-language news, sports and entertainment, and operates a leading Hispanic radio network and Latin music media platform.

Covington provided FCC regulatory, distribution, and antitrust counsel to Univision. The team included Mace Rosenstein, Matt DelNero, Hannah Lepow, and Thomas Parisi (regulatory); Robyn Polashuk, Jennifer Johnson, Michelle Choe, and David Lefebvre (distribution); and Deborah Garza, Jim O’Connell, and Ross Demain (antitrust).