Former Viacom chief financial officer Wade Davis didn’t waste any time after exiting the company last year amid the musical chairs in senior management as Viacom and CBS Corp. prepared to mer…
, there’s no question in my mind that it’s the most attractive traditional media business today,” Davis told. “It’s focused on a large demographic that is growing faster than any other demographic in the United States. And it’s incredibly relevant from a cultural standpoint.”
Univision has long been the dominant Spanish-language media company in the U.S. But it has lost significant market share to rival Telemundo, which has benefited from investment from parent company NBCUniversal during the past decade. Univision has a longstanding pact with Televisa means that its scripted programming is focused on telenovelas made for Mexican audiences. Telemundo has made strides with a focus on edgier programs aimed at younger viewers and U.S.-born Hispanics.
Davis praised the current management team at Univision, asserting that the company “has done an amazing job driving a reinvention around its programming strategy,” adding more news and a wider variety of entertainment programming. Davis characterized the deal terms for Univision’s renewals as strong, despite Univision’s ratings struggles. “There’s lots of incremental opportunity to build on top of the most stable distributor platform in the industry,” he said.
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