Nogales Quits Univision as New Owners Take Over
LOS ANGELES (AP) _ Luis Nogales stepped down Tuesday as president of Univision Inc. after control of the nation’s leading Spanish-language television network was transferred to a group led by Hallmark Cards Inc.
The 45-year-old Nogales joined Univision in December 1986 as head of its news operation and became president last September.
Nogales, a former chairman and chief executive of United Press International, said the new owners had asked him to stay on in the job but he declined.
″It was not an offer I found attractive at this point in my career,″ Nogales said, adding that he was bothered by a variety of factors including the ″reporting structure.″
Named to replace Nogales on an interim basis was Univision’s longtime sales executive William Stiles, said spokeswoman Emma Carrasco.
Stiles will work closely with Danny Villanueva and Joaquin Blaya, heads of the company’s stations in Los Angeles and Miami, she said.
Hallmark, based in Kansas City, Mo., and First Chicago Venture Capital of Chicago agreed last November to aquire the network for an undisclosed price.
Previously, Hallmark and First Chicago bought five major Spanish-language television stations from Univision for $301 million. The stations are located in Los Angeles and Fresno, Calif., San Antonio, Texas, Miami and New York.
Nogales will remain with Univision’s parent, Univisa S.A., a diversified entertainment concern with cable television, record, video and other operations.
Nogales said he will spend some time exploring a number of new businesses for Univisa before it is determined what he will head.