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Univision Networks Ad Revenue Rises 7 Percent
BY GEORG SZALAI | HollywoodReporter.Com
Troy Warren #business-all
The Spanish-language media giant reports its first-quarter results, with CEO Wade Davis saying they “demonstrate that Univision’s transformation is continuing to gain momentum.”
Spanish-language media giant Univision Communications, which late last year sold a majority stake to an investor group led by former Viacom CFO Wade Davis and recently agreed to a merger with Mexican TV giant Televisa, reported higher first-quarter core advertising sales and earnings Friday.
“Our quarterly results demonstrate that Univision’s transformation is continuing to gain momentum,” Davis argued. “Univision’s underlying business is optimizing as evidenced by the strong growth in advertising revenue” and other trends.
The company posted a first-quarter profit of $66.0 million, compared with a year-ago profit of $11.7 million. Adjusted operating income before depreciation and amortization (OIBDA), another profitability metric, was nearly unchanged at $252.1 million.