Cisneros on Friday declared the demise of its chairman, Gustavo Cisneros Rendiles, who was 78 year old. It did not give any other in depth data. The Venezuelan media mogul had expanded his family business into a global player, remaining chairman until he died. “Gustavo Cisneros was very well known for creating a sustainable legacy and particularly distinguished himself through the international expansion of the family business ventures, as well as spearheading the entertainment industry across Latin America and the US Hispanic market,” the group revealed in a statement. During his career, he signed deals across several sectors and expanded the Cisneros group. In 1992, Gustavo Cisneros co-founded Univision, the first Spanish-language media company in the United States. In 1995, Cisneros also declared DIRECTV Latin America, the first all-digital direct-to-home satellite television service in Latin America.