Former Media General Inc. CEO Vincent Sadusky will succeed Randy Falco as CEO of Univision Communications Inc. as soon as June 1, The Wall Street Journal reported May 22, citing sources with knowledge of the matter.
In March, Univision confirmed reports that Falco planned to step down as CEO at year-end. The announcement of Falco's departure came after parent Univision Holdings Inc. asked to withdraw its proposed IPO "due to prevailing market conditions." The company had initially filed for the IPO in July 2015.
Sources also said the company is pursuing a broader business review that could result in cost cuts in the range of $200 million, including considerable job losses.
