It’s been an interesting seven months for Entravision Communications, which in March disclosed that Meta’s wind-down of its Authorized Sales Partner (ASP) would likely reduce the company’s EBITDA and revenue in a significant way. By May, Chief Financial Officer Christopher Young was let go as part of an expense reduction plan that eliminated his $600,000 annual base salary.
Now led by CEO Michael Christenson, who joined the company in 2023 following the unexpected death of company founder Walter Ulloa during Christmas 2022, Entravision has made a change that impacts the C-Suite role of Chief Revenue Officer.
As RBR+TVBR first hinted at late Tuesday on its X feed and in the Afternoon Headlines E-mail, Karl Alonso Meyer is no longer CRO after some five years in the role. Meyer is a Hispanic market broadcast media veteran and also worked at Entravision from 2004-2014.
With Meta’s ASP program representing some 41.25% of fiscal 2023 total consolidated EBITDA and $586.4 million of its total consolidated revenue, Entravision has decided to place Juan Navarro in the CRO role.
Navarro rises from the Executive Vice President of Local Sales position at Entravision, a post he has held since 2019.
The change comes despite a 12% increase in net revenue for Q2 2024; The ASP revenue replacement is, however, a significant long-term challenge for a company that now sees the majority of its revenue come from digital. Its heritage television and radio divisions continue to experience revenue declines, compared to previous fiscal years.
In related news, Marcelo Gaete has been appointed Entravision’s Chief Government Affairs Officer, rising from EVP of Public and Government Relations. He will focus on maximizing government and political advertising opportunities.
Finally, Larry Safir, a longtime advisor, has been named Executive Vice President for Entravision’s Texas properties. Safir previously managed nine media properties in McAllen-Brownsville-Harlingen, TX.
— With reporting by Cameron Coats, from New York
