Univision executive Isaac Lee exits amid company turmoil

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Univision’s chief content material officer is leaving his publish to start out his personal manufacturing firm, the Spanish language broadcaster introduced on Tuesday.

Isaac Lee turned identified for his function in shepherding Univision’s transfer into digital and English content material. He was usually quoted extolling the significance of Hispanic media and the Latino vote forward of the 2016 election. When Univision anchor Jorge Ramos tangled with then-candidate Donald Trump, Lee defended Ramos, equating the journalist’s actions to talking out towards the Nazis throughout World Conflict II.

Lee joined Univision in 2010 because the president of reports and created the millenial-focused community Fusion earlier than being named chief content material officer in 2017.

“I wish to thank Isaac for main Univision’s content material staff with integrity and braveness and serving to elevate and place Univision in mainstream American media,” Haim Saban, the chairman of Univision’s board, stated in a press release. “He understood the relevance that Univision has for Hispanic America and served the viewers properly. Isaac has imaginative and prescient and is aware of easy methods to execute. I want him properly and anticipate extra thrilling issues from him sooner or later.”

Univision is within the midst of a tough stretch. The community introduced in Might that Vincent Sadusky can be its subsequent chief govt officer, taking up from Randy Falco, who introduced in March that he plans to retire by the top of the yr. Falco’s announcement got here as a shock as a result of the Univision board had simply renewed his contract by 2020 just a few months earlier.

At across the similar time Falco introduced his deliberate retirement, Univision additionally stated it was calling off a long-planned public providing and conducting a overview after disappointing monetary efficiency, the Wall Avenue Journal reported on the time, resulting in employees cuts. Extra lately, the Journal reported that Univision can also be looking for to promote Fusion Media Group, which incorporates the web sites Gizmodo and LifeHacker.

“The corporate is being dressed up on the market,” a supply near Lee and Univision stated. “It has 7 billion in debt. Non-public fairness wish to exit. No urge for food from markets for an IPO. Telemundo is catching as much as them. They do not have ample scale at a time when all conventional media is bulking up.”

The subsequent few months at Univision can be “gloomy” the supply added.

Univision stated Lee’s new manufacturing firm will work to develop “the identical numerous related, impartial content material that may enchantment to numerous audiences globally.”

“I wish to thank my terribly proficient and hard-working colleagues at Univision, in addition to Haim and the whole Board, for all of the assist I’ve acquired in my almost eight years at UCI,” Lee stated in a press release.

CNNMoney (Washington) First revealed July 17, 2018: three:21 PM ET

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