Univision Communications Inc. is close to naming long-time advertising executive Joe Uva as its new chief executive officer, according to a report in the New York Post.

The Los Angels-based media company is set to name Uva currently chief executive officer of Omnicom Group Inc.’s OMD advertising agency after its acquisition by a private equity group led by billionaire Haim Saban is completed.

Saban Capital Group is partnering with Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group and Thomas H. Lee Partners to acquire Univision for about $13.7 billion. The acquisition is expected to close this quarter.

The move shows that the company, the largest Spanish language broadcaster in the U.S., is aligning itself to make a push to gain more advertising revenue, the Post said.

Shares in Univision closed down 6 cents to $35.90 Tuesday in trading on the New York Stock Exchange.