Since Univision is privately held, it doesn’t have to disclose much about the terms. But the Spanish language broadcaster says that CEO Randy Falco now will stay at least through January 2018. He joined in 2011 after running AOL, and a 31-year career at NBC.

Falco has “successfully guided Univision through a period of exceptional growth and innovation,” says Univision Chairman Haim Saban. He specifically has “meaningfully increased earnings and accelerated its transformation from a niche broadcast network to a multimedia powerhouse, with platforms across the spectrum of traditional and new media.”

Univision now has 16 broadcast, cable and digital networks as well as 61 TV stations, 61 radio stations, and multiple online products. Falco’s also credited for  helping to forge the company’s Fusion joint venture with ABC, investing in El Rey, and creating bilingual digital video network UVideos.