Searchlight Capital, ForgeLight make play for Univision

MIAMI, LOS ANGELES, NEW YORK AND MEXICO CITY – Univision Holdings, Inc. (together with its wholly owned subsidiary, Univision Communications Inc., "Univision"), a leading media company in the United States, Searchlight Capital Partners, LP ("Searchlight"), a global private investment firm, and ForgeLight LLC ("ForgeLight"), an operating and investment company focused on the media and consumer technology sectors, today announced a definitive agreement in which Searchlight and ForgeLight will acquire a majority ownership interest in Univision from all stockholders of Univision other than Grupo Televisa, S.A.B. ("Televisa"). Terms of the transaction were not disclosed.

Televisa, a leading media company in the Spanish-speaking world, has elected to retain its approximate 36 percent stake in Univision's fully diluted equity capital on an as converted basis. Televisa's Program License Agreement with Univision will remain in effect and will not expire unless Televisa voluntarily sells down a substantial portion of its ownership stake, at which point the agreement would remain in place for an additional 7.5 years. The agreement, which is one of Univision's most strategic assets, provides the company exclusive access to the largest Spanish-language video library in the world.

Under the terms of the acquisition, Searchlight and ForgeLight will purchase the remaining 64 percent ownership interest from the other stockholders of Univision, led by an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group ("the Sponsor Group"). Searchlight and ForgeLight will partner closely with Televisa and Wade Davis, founder of ForgeLight, who will become CEO of Univision upon close of the transaction. The transaction, which is subject to customary closing conditions including receipt of regulatory approvals, is expected to close later this year.

Morgan Stanley & Co. LLC, LionTree Advisors LLC and Moelis & Company LLC are acting as financial advisors to Univision, and Cravath, Swaine & Moore LLP, Covington & Burling LLP and Sidley Austin LLP are serving as legal counsel to Univision.

BofA Securities is serving as the financial advisor to Searchlight, Paul Weiss Rifkin Wharton & Garrison LLP is acting as its legal counsel.

Guggenheim Securities LLC is serving as financial advisor to ForgeLight, and Willkie Farr & Gallagher LLP and Proskauer Rose LLP are acting as its legal counsel.

Goldman Sachs & Co. is serving as financial adviser to Searchlight and ForgeLight as a group.

Allen & Company LLC is acting as the financial advisor to Televisa, and Wachtell, Lipton, Rosen & Katz and Pillsbury Winthrop Shaw Pittman LLP are serving as its legal counsel.

Univision