March 8, 2018 / 1:09 AM / 9 months ago

Univision Communications to replace CEO amid failed IPO plans -WSJ

March 7 (Reuters) - Spanish language broadcaster Univision Communications Inc is considering replacing Chief Executive Officer Randy Falco, and undertake a business review that could lead to cost cuts, the Wall Street Journal reported on Wednesday, citing sources.

On Tuesday the company withdrew its IPO plans of up to $100 million, blaming rough market conditions for publicly listed media companies. (on.wsj.com/2FkL2lL)

The business review could result in cost cuts of up to $200 million, including layoffs. The company aims to improve performance and spruce it up in advance for a potential sale, The Journal reported.

Univision was not immediately available for comment outside regular business hours. (Reporting by Ahmed Farhatha in Bengaluru; editing by Grant McCool)

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