Univision addresses 'elephant in the room' ahead of TV Upfronts

Amid a major upheaval, Univision got out ahead of the TV upfronts to say that it's continuing to grow and reinvent itself for the shifts happening in TV.

"I want to address the elephant in the room," said Tonia O'Connor, chief revenue officer, Univision, at a press event Friday morning, ticking off the business review, cost cutting initiatives and layoffs that have hit Univision over the past few months.

Earlier this year, the Hispanic media company squelched plans for its long-anticipated initial public offering. Then CEO Randy Falco announced in March that he would retire at the end of the year, a year earlier than originally planned. The company also lost its chief financial officer, Francisco Lopez-Balboa, and Gizmodo Media Group CEO Raju Narisetti.

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