Three years after Walter Ulloa’s estate negotiated a board seat at Entravision, the agreement that secured it has been terminated. The company and Alexandra Seros, Ulloa’s widow, mutually agreed to end the cooperation agreement on May 18. However, one element of the arrangement will survive.
The termination, disclosed in an SEC filing, renders the cooperation agreement void, with all rights and obligations of both parties extinguished; however, board member Thomas Strickler, nominated under its terms, will remain in place.
Entravision and Seros, along with related trusts, originally entered the cooperation agreement on May 4, 2023, following the death of Ulloa, who founded the company and served as its chairman and chief executive officer. Under the agreement, Entravision committed to nominating the stockholders’ board candidate while Seros and the associated trusts accepted specific restrictions on their ownership of company stock.
The termination comes during a period of prolonged transition at the Santa Monica-based company. Ulloa’s death in December 2022 set off a chain of leadership and strategic changes, including Michael Christenson taking over as CEO in June 2023. Meta’s decision in March 2024 to wind down its Authorized Sales Partners program globally prompted Entravision to dispose of its digital commercial partnerships business, and the company sold its digital advertising representation business to Aleph Group in June 2024.
Entravision has since refocused on its core U.S. media operations and advertising technology segment.
Entravision posted a 114% consolidated revenue jump in Q1 2026, but the number that drove it had nothing to do with broadcasting. The company’s Advertising Technology and Services segment — which sells programmatic advertising technology to global app developers through its Smadex and Adwake platforms — generated $154.6 million in net revenue for the quarter, up 204% from $50.9 million in Q1 2025. A single, unspecified advertiser in Asia accounted for 36% of total company revenue for the period.
