Univision Communications Inc. has announced that it has extended the employment agreement of President and Chief Executive Officer Randy Falco through January 2018.

“Since taking the helm in 2011, Randy has successfully guided Univision through a period of exceptional growth and innovation, adeptly navigating a climate of unprecedented industry change and positioning the company for the future,” commented Haim Saban, Chairman of Univision Communications Inc. “Under Randy’s leadership and vision, the Company has meaningfully increased earnings and accelerated its transformation from a niche broadcast network to a multimedia powerhouse, with platforms across the spectrum of traditional and new media that appeal to the diverse U.S. Hispanic audiences like no other media company can. By being nimble and opportunistic – internally and externally – and making smart investments, Randy and his team have set Univision apart from its peers, making our company an invaluable partner to marketers and distributors, providing our audiences more and better content than ever before, and creating opportunities for our talented employees. The Board is thrilled that Randy will continue to lead Univision.”

Under his leadership, UCI has transformed into a multimedia company with 16 broadcast, cable and digital networks; 61 television stations; 67 radio stations; an array of online and mobile apps and products; and content creation facilities in Miami, New York and Los Angeles. Executing on Falco’s vision, the Company has driven audience engagement and interaction across a wide range of new platforms and through innovative partnerships, launching new networks focused on sports, telenovelas and news and a joint venture with ABC for Fusion, an English-language news, pop culture and satire TV and digital network; making a strategic investment in El Rey; creating UVideos, the first bilingual digital video network; and introducing Uforia, a digital music service, among other things. Furthermore, Falco led the Company’s 50th anniversary celebration by unveiling its new brand logo and tagline – “the Hispanic Heartbeat of America” – to better define Univision’s uniquely close relationship with the community it serves, which has resonated with audiences, advertisers, partners and employees.