Univision Q4 Revenues Up, But Not In Radio
February 14, 2014 at 4:20 AM (PT)
UNIVISION COMMUNICATIONS INC fourth quarter net revenue increased 3.6% to $696.2 million and adjusted operating income before depreciation and amortization (OIBDA) increased 2.4% to $296.1 million. Radio revenues, on the other hand, fell 8.9% from $89.1 million to $81.6 million based on the loss of political advertising and the exit of syndicated morning host EDDIE "PIOLIN" SOTELO, but the company said that it would have fallen 2.9% without political advertising being considered. EVP/CFO ANDY HOBSON also disclosed on the conference call discussing the earnings report that a "pre-formed group" of investors have purchased a 1.5% stake in the company.
President and CEO RANDY FALCO said, "The fourth quarter capped off another year of revenue growth, positive momentum and transformation for UNIVISION COMMUNICATIONS. Our multiplatform expansion was in full focus in the fourth quarter with the official launches of FUSION and EL REY, the social media launch of FLAMA and the impressive performance of UNIVISION DEPORTES, which finished 2013 as the fastest-growing cable network in any language in both total day and primetime. Overall, our financial performance and the operational milestones we achieved throughout the year are strong testaments to the success of our evolution and potential for continued growth in 2014."