Univision co-founder Gustavo Cisneros dead at 78

Univision co-founder Gustavo Cisneros — the Venezuelan media magnate who built his empire on bringing American brands and businesses to his native country during the 1970s oil boom — died in New York City Friday, his company announced.

No cause of death was reported for Cisneros, 78, whose Cisneros Group owned media and entertainment companies, as well as the Miss Venezuela pageant and Leones de Caracas baseball team.

“Gustavo Cisneros was renowned for crafting a sustainable legacy and particularly distinguished himself through the international expansion of the family business ventures, as well as spearheading the entertainment industry across Latin America and the US Hispanic market,” the group said in a statement on its website Saturday.

During his career, he signed deals across several sectors and expanded the Cisneros Group. In 1992, Cisneros co-founded Univision, the first Spanish-language media company in the US. Three years later, he launched DIRECTV, the first satellite television service in Latin America.

Gustavo Alfredo Cisneros Rendiles was born in Caracas on June 1, 1945. His father, Diego Cisneros, was an entrepreneur who acquired the Pepsi concession for the country in 1940 as well as a local TV network in the 1960s.

He is survived by his wife of 53-years Patricia Phelps, three adult children, including Adriana Cisneros, who is CEO of Cisneros Group, and 10 grandkids.

Cisneros and Phelps were important collectors of Latin American abstract art. In 2017, the couple donated 102 works to the Museum of Modern Art in Manhattan.

Before his death, Cisneros was developing a Four Seasons resort in Miches in northeastern Dominican Republic. The project, which includes both a hotel and private residences, is scheduled for completion in 2026, according to its website.

Cisneros lived for most of the year in the Dominican Republic’s exclusive La Romana resort, and was on the board of Barrick Gold in the Caribbean country since 2003.