Net Revs Down 2.4% For Univision In Q3
November 17, 2008 at 5:35 AM (PT)
UNIVISION COMMUNICATIONS INC. has announced financial results for the third quarter and nine months ended SEPTEMBER 30th, 2008. For the 2008 third quarter, net revenue declined 2.4% to $511.3 million from $524.0 million in 2007 and adjusted operating income before depreciation and amortization decreased 2.7% to $213.7 million in 2008 from $219.7 million in 2007.
CEO JOE UVA said, "Despite continuing pressure on the advertising market as a result of the current economic conditions, UNIVISION's net revenue excluding incremental revenue from major soccer and political increased 0.3% in the third quarter, whereas the television industry decreased 9.4% and the radio industry decreased by 8.6%. The UNIVISION NETWORK is currently boasting its best season start ever with UNIVISION seeing year-to-year audience growth among all major demographics for the first several weeks of the new season. All of the other major networks, ABC, CBS, FOX, NBC and CW, have seen their own audiences dwindle. Going forward, UNIVISION's unique ability to consistently out-deliver our peers and connect with our audience will position us for continued growth."