Categorized | TV & Radio

Univision cancels IPO; names Lori CFO as Lopez-Balboa exits company

Univision IPO - Peter Lori

Citing prevailing market conditions, Univision today said it will not move forward with its proposed initial public offering and requested the withdrawal of its Form S-1 on file with the U.S. Securities and Exchange Commission.

Talks of a Univision IPO go back at least six years, with the company hiring handlers and filing the Form S-1 with the SEC in 2015. That filing showed multimillion-dollar losses. Market conditions forced the company to postpone the IPO.

In the most recent quarter, Univision reported a $104 million profit, but it will likely feel the loss of World Cup advertising this year – the first time it won’t air the games in its history, as Telemundo prepares to capitalize on its ownership of the Spanish-broadcasting rights to this year’s competition in Russia.

Univision also announced that it has promoted Peter H. Lori to Chief Financial Officer, effective immediately. He succeeds Francisco (Frank) J. Lopez-Balboa who is leaving the company.

A former Goldman Sachs banker investment banker, Lopez-Balboa was hired in 2015 to help shepherd the elusive IPO.

At the time, Lori was the interim CFO.

Lori who joined the company in 2005, was most recently Executive Vice President, Finance, Chief Accounting Officer and Deputy Chief Financial Officer for UCI.

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- who has written 4807 posts on Media Moves.

I'm an Emmy award-winning journalist, who's worked as an on-air reporter in Spanish and English-language television news. I've worked for Univision, Telemundo, CNN en Español and Los Angeles Fox and UPN stations before diving into a convergence model at the San Jose Mercury News. I have also held management positions in the online digital sphere - first as Managing Editor of IntersectionsSouthLA.org, followed by a role as the West Coast Web editor for impreMedia. I was president of the National Association of Hispanic Journalists from 2004 to 2006. I am also a freelance writer, reporter and producer. I founded Media Moves in June of 2007.

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2 Responses to “Univision cancels IPO; names Lori CFO as Lopez-Balboa exits company”

  1. WePaidDuesToo says:

    Market issues they say ? Anyway they put it, any turn they tweak the tortilla, goes to the same result. A disaster.
    This company has been as it will, also a shame, a disgrace, a waste.
    Comparing it with what it used to be is depressing.
    From the moment it was sold, that it was given the wheel first to Saban and Co, then handed to Azcarraga/Falco/Lee: an fiasco after another.
    Have you checked our current medical plan, for example ?
    The rounds of laid off ?
    The moral down the drain ?
    But wait, the bad part is that the worse, is yet to happen.

  2. From Veronica Villafane​’s excellent blog “Media Moves”.

    It could be my own perception, but I don’t think that it has so much to do with the current hatred towards immigrants and Mexicans as it does with the inability of Univision’s top management (Randy Falco, the CEO is leaving) to unify all of Univision’s moving parts into a coherent whole. Univision owns, of course, Univision, but they have the faltering Fusion, which never either got distribution or an audience; they have a fragmented series of sites, no real mobile offer, got rid of an entire media category that would have bolstered their audience (Radio) and funneled a ton of people into its other offerings… so, yeah, lots and lots and lots of moving parts, no coherent envelope to fit it into.

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Veronica Villafañe, Editor and Publisher

Veronica Villafane

I'm an Emmy award-winning journalist, who's worked as an on-air reporter, anchor, writer and producer for Spanish and English-language television, including Univision, Telemundo, CNN en Español, Fox 11 News in Los Angeles and the San Jose Mercury News, later becoming a digital media manager. I write about Hispanic media and entertainment as a regular contributor to Forbes and also freelance as an editor, reporter and producer for other media outlets. I'm a former president of the National Association of Hispanic Journalists, inducted into the Hall of Fame in August of 2016.
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