Entravision Buys Remaining 49% Stake In Cisneros Interactive

Full Ownership

ENTRAVISION COMMUNICATIONS CORP. has acquired the remaining 49% of CISNEROS INTERACTIVE that it did not already own. ENTRAVISION bought 51% of the digital advertising agency for $29 million last OCTOBER and has acquired the rest of the company for three earn-out payments in APRIL 2022, 2023, and 2024 equal to 49% of the previous year's EBITDA for CISNEROS multiplied by 6 then divided by three, followed by an additional $10 million payment less 49% of anything paid by CISNEROS for acquisitions.

“We are very pleased to continue to invest in the CISNEROS INTERACTIVE -- ENTRAVISION business to enhance our digital market leadership,” said ENTRAVISION Chairman/CEO WALTER ULLOA. “This joint venture has been a great addition to ENTRAVISION, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in CISNEROS INTERACTIVE, and we plan to continue to invest in expanding our global footprint, management and digital service tools.”

“We are excited about this transaction and our continued partnership with ENTRAVISION,” said CISNEROS CEO ADRIANA CISNEROS. “Working with ENTRAVISION over the past nine months has been an incredible opportunity to grow the CISNEROS INTERACTIVE business with ENTRAVISION’s resources and broad network capabilities that have further enhanced the strong client and partnership relationships we have built with some of the world’s leading digital companies. CISNEROS plans to maintain this active partnership with ENTRAVISION by having the CISNEROS Interactive management team continue to manage the business and by exploring new digital ventures at a global scale."

“Today’s announcement is a major milestone for the CISNEROS Interactive and ENTRAVISION team, and I would like to thank them and our partners for making this accomplishment possible,” said CISNEROS INTERACTIVE CEO VICTOR KONG. “With the support of ENTRAVISION, CISNEROS INTERACTIVE’s business has reached new heights. Now, with ENTRAVISION acquiring full ownership of our company, we can take our leadership position even further with additional synergies and by further expanding our global reach.”

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