Univision lays off 20 including top Fusion Media Group execs
Univision Communications has laid off 20 employees across various business units after the Spanish-language broadcaster decided to cancel its IPO plans.
Some of the layoffs affect Fusion Media Group, the business unit inside Univision that contains the Fusion TV network as well as digital publishing businesses including The Onion, Gizmodo Media Group and The Root. Fusion Media Group’s CEO Felipe Holguin and president and chief content officer Daniel Eilemberg are leaving the company, according to sources with direct knowledge of the matter. Other key executives within Fusion Media Group may also leave the company as a result of these cuts.
In a statement, Univision did not specify which specific roles were being cut, but said, “As the media industry rapidly evolves, we are focused on continuing to transform [Univision Communications Inc.] for the future. As part of this process, we have recently taken steps to realign parts of our operations and reallocate resources to invest in growth that will best serve our audiences, community and partners.”
The layoffs come as Univision is looking to cut costs — and search for a new CEO — after canceling plans to go public, according to The Wall Street Journal. Last month, Fusion reportedly laid off employees who worked on “The Naked Truth” documentary series. Univision’s news division also underwent a round of layoffs around the same time.
Univision is a privately held company with investors that include billionaire Haim Saban. The company’s decision to not pursue its long-planned IPO led to the departure of CFO Frank Lopez-Balboa, the Journal reported earlier this week.
-
Future of TV Briefing: CTV continues to be a black box to programmatic marketers
This week’s Future of TV Briefing digs into the CTV-related, behind-closed-doors discussions among brand and agency executives during last week’s Digiday Programmatic Marketing Summit.
-
Future of TV Briefing: The big questions heading into this year’s upfront market
This week's Future of TV Briefing highlights the top questions facing TV and streaming ad buyers and sellers heading into this year's upfront market.
-
Future of TV Briefing: How TV and streaming businesses fared in the first quarter of 2023
This week’s Future of TV Briefing reviews the state of the TV and streaming business in light of companies' latest quarterly earnings reports.
-
SponsoredWhat the measurement and currency discussion really means to TV advertisers
This article is also available in Spanish. Please use the toggle above the headline to switch languages. Visit digiday.com/es to read more content in Spanish. Ali Mack, head of TV and agency, Experian Major streaming video providers have recently made headlines by adopting new currencies for ad measurement, threatening Nielsen’s long-standing TV ratings monopoly. NBCUniversal, […]
-
TelevisaUnivision’s Donna Speciale sees TV’s measurement shift shoring up underrepresentation issue
The Hispanic-centric TV network has seen its core audience undercounted by measurement panels by as much as 35%, Speciale said in the latest Digiday Podcast.
-
How YouTube is mixing up the TV ad market
Now that YouTube has become the streaming service people spend the most time watching on TV screens, it’s becoming hard to argue that YouTube isn’t TV.
