Joe Uva, head of media buyer OMD and a former senior executive at Turner Broadcasting, was named chief executive of Univision.

The largest Spanish-language broadcaster in the United States, Univision is in the process of completing a deal to be acquired by a group of private investors, including Saban Capital. The new chief executive probably will get a lucrative compensation package, including a stake in the company.

A. Jerrold Perenchio, the secretive longtime chairman-CEO of Univision, will leave after the $12.3 billion sale is closed, which is expected in March. Mr. Uva will assume his position April 1.

Given Uva’s advertising industry background, Univision likely will count on him to boost its share of the booming Spanish-language advertising market, which is projected to hit $5.5 billion by 2010.

“Joe has a proven track record of achievement in a broad range of advertising-focused media businesses based on his effective strategy development, team building, sales skills, creative execution and new business expansion,” said Broadcast Media Partners, the investor group buying Univision, in a statement Tuesday.

“I am excited to have the opportunity to lead a premier company that has redefined the American media landscape and is so deeply embedded in the lives of its audience,” said Mr. Uva. “This is a company with tremendous strength that has fabulous growth opportunities.”

(Editor: Horowitz)