The private investor group that acquired Univision Communications Inc. has named Joe Uva, president and CEO of OMD Worldwide, to succeed the Spanish broadcaster's CEO when the acquisition closes, a person familiar with the matter said Tuesday (Feb. 27).

The $12.3 billion transaction, which still requires Federal Communications Commission approval, is expected to close as soon as next month.

Uva will take over for A. Jerrold Perenchio, Univision's longtime chairman and chief executive, soon after, according to the person, who spoke on condition of anonymity, citing the confidential nature of the process.

New York-based OMD, a unit of Omnicom Group Inc., is one of the world's largest media buying agencies.

The consortium of investors that acquired Univision includes Saban Capital Group, Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group and Thomas H. Lee Partners.