Entravision 2Q Revenues Down
August 6, 2008 at 1:33 PM (PT)
Like most of the industry ENTRAVISION has had a tough 2008. Its second quarter '08 results saw net revenue drop 5%, with flat operating expanses and a 2% rise in corporate expenses. Consolidated EBITDA fell 14% For the first six months of the year, net revenue was down 4% and EBITDA was down 12%
Commenting on the Company's earnings results, Chairman/CEO WALTER ULLOA said, "During the second quarter we continued to drive audience growth and strengthen the position of our TV and radio stations in an advertising market that remains weak due to general economic conditions. We are taking additional steps to control our costs while continuing to make prudent investments in our content, marketing and sales capabilities. In addition, our balance sheet remains strong and we have ample financial flexibility. The nation's Hispanic population continues to grow and we remain optimally positioned to capitalize on this opportunity over the long-term."