Gustavo Cisneros, a businessman who expanded his family business into one of the biggest and most diversified holdings in Latin America in the late 20th century, has died.

His company, the Cisneros Group, confirmed his death Friday on social media, calling him a “leader who transcended business, characterized by his strategic vision and commitment to innovation”. A cause of death was not reported.

Cisneros became President of Grupo Cisneros when he was 25 years old. The company, one of the largest privately held media entertainment organizations in the world, has been headquartered in Coral Gables, Florida, since 2000.

Cisneros co-founded Univision, the first Spanish-language media company in the U.S. in 1992. Three years later, he launched DirecTV Latin America, the first all-digital direct-to-home satellite television service in Latin America.

Grupo Cisneros held a 25% stake in Univision and 12.5% stake in the Univision Communications (now TelevisaUnivision). Grupo Cisneros’ stake in Univision led to the...