Chasing millennials and profits, Univision restructures and lays off at least 200

The Spanish-language media giant, Univision Communications, will lay off almost 6 percent of its workforce — between 200 and 250 people — after it slipped into the red last quarter, the company announced Wednesday.

The layoffs, along with a planned restructuring, “are in response to difficult times, challenging times,” Isaac Lee, Univision’s digital, entertainment and news chief, told The Washington Post in his first public comments on the moves. “We need to position ourselves for the future.”

Univision had a third-quarter net loss of $30.5 million, on total revenues of $735 million, down 8 percent.

As its traditional audience of Latino television watchers becomes older or cuts the cord, the company will also continue to chase what it sees as its savior: the English-language, digital, millennial audience.

Univision made a surprising move in that direction last summer when it paid $135 million for the media companies associated with Gawker, the Manhattan-based media gossip site. Gawker was forced to file for bankruptcy as a result of a crippling $140 million jury award in the Hulk Hogan sex tape suit. The suit was financed by billionaire investor Peter Thiel, in retribution for Gawker’s outing him as gay in 2007.

LOL-—this means bankruptcy court for Clinton fanatic, Haim Saban.

BACKSTORY Hillary’s key supporter – donated more than $15 million to her presidential campaign and the Clinton Foundation – used a controversial Panamanian law firm to set up offshore companies. Saban once admitted to a Senate panel that he used phony investment losses to dodge hundreds of millions of dollars in taxes....

Saban has a non-profit...”The Saban Center”. Saban subsidized a 34-page white paper titled, “Pathway to Coexistence: A New U.S. Policy toward Iran.”

NO CONCIDENCE The paper essentially forecasted Obama’s approach to dealing with Iran: (1) the largely hands-off approach to Iran’s bloody 2009 Green Revolution, and, (2) the present-day compromises on its nuclear program.

The ties between the Clintons, Haim Saban, and Spanish TV television network-—UNIVISION-—run deep. Univision’s newscasts gleefully bash Republicans and praise Hillary’s newly-minted position on immigration.

Network Owner Haim Saban’s unabashed support for Hillarys election effort segued into (surprise) a partnership between Univision and the Clinton Family Foundation.

NY POST EXCERPT-—Saban’s Univision trotted out Bill Clinton to talk to advertisers——as private equity owners of the debt-laden company sweat. Univision’s owners are hoping to launch the IPO in just weeks (about to years ago).

Getting early commitments on ad spending from Madison Avenue would certainly make an IPO road show before potential investors that much easier....they hope to raise around $1 billion at a valuation of $20 billion, according to Reuters. (Univision has $9 billion in long-term debt.)

Mexican program provider Televisa also has an 8 percent stake.Goldman Sachs, Morgan Stanley and Deutsche Bank — the lead underwriters — are getting ready to gin up some sizzle for a not very sexy Univision business: called free-to-air.

THE BIG BURRITO-—HILLARY/BILL CLINTON MEDIA CONNECTION-—Latino-TV Univision owner, Haim Saban described his formula to influence American politics:

<><> make donations to political parties,

<><> establish think tanks, and,

<><> control media outlets.

(HAT TIP WIKI)

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