On February 25, 2020, investment firms ForgeLight (launched by founder & CEO & ex-Viacom CFO Wade Davis) and Searchlight Capital agreed to acquire the 64% controlling stake of Univision Communications which owned WLII-DT, while minority owner Televisa continued to hold its 36% stake with the company. However, both Searchlight and ForgeLight had a stake in Hemisphere Media Group, which owns WAPA-TV in San Juan. Univision was required to divest WLII and its satellite stations in order to comply with ownership limits.