Gustavo Cisneros, one of the most important media entrepreneurs in the region, has died

Venezuelan entrepreneur Gustavo Cisneros, owner of the Venevisión network and the Miss Venezuela competition, died this Friday afternoon at the age of 78. Cisneros died at his home in the United States and his cause of death was not reported.

The chain he built fired him with a message on Instagram. “Venevision communicates with deep regret the death of the Chairman of the Board of Directors of Cisneros, Gustavo Cisneros Rendiles, an exceptional leader who transcended business, characterized by his strategic vision and commitment to innovation,” the channel wrote.

“Gustavo Cisneros has dedicated himself to building a sustainable legacy, standing out for the internationalization of the Venezuelan group of companies and for being a leader in the entertainment industry in Latin America and in the Hispanic market in the United States,” reads the statement .

Cisneros was born in Caracas in 1945 and was the son of a Cuban-born businessman in the transportation industry who had settled in Venezuela.

In 1970 he took over his father’s companies and over time became one of the most important media entrepreneurs in the region. He owned companies such as Venevisión, Cisneros Media, Cisneros Studios and Miss Venezuela Organization.

The businessman earned a bachelor’s degree in business administration from Babson College in Wellesley, Massachusetts. He also received an honorary doctorate of humanities from the University of Miami.