Entravision TV Down in Q1
Entravision said its net revenue dropped $1.5 million in the first quarter of the year, to $58.1 million.
The company said much of the drop, some $2.9 million, came from its television division. Univision made about $5 million worth of channel modifications to accommodate the operations of a telecom provider.
The drop was partially offset by a rise in national ad revenue, political ad revenue and an increase in retrans fees.
The overall decrease in net revenue was partially offset by about $0.6 million in radio advertising, and political.
Operating expenses for the quarter rose $1.8 million to $39 million due to the associated costs of ad revenue, salary and rent increases.
Univision Chair/CEO Walter Ulloa said “Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders.”
Univision’s board approved a quarterly cash dividend of $0.03125 per share of the company’s Class A, Class B and Class U common stock, in an aggregate amount of approximately $2.8 million. The quarterly dividend will be payable on June 30 to shareholders of record as of the close of business on June 15, and the common stock will trade ex-dividend on June 13.