Entravision Revs Down 23%, Radio Down 29%
August 5, 2009 at 1:54 PM (PT)
ENTRAVISION has announced that Net revenue for the second quarter of 2009, ending JUNE 30th, declined 23% to $62.932 million; net revenue for radio in that quarter declined 29% to a little under $24 million. Revenues for the first six months of the year declined 24%
"Our second-quarter financial results reflect the continuing recession and the challenging advertising environment," Chairman/CEO WALTER F. ULLOA said. "We are continuing to aggressively manage our costs to maximize our cash flows. Our television and radio operations continue to deliver solid ratings in the nation's most densely-populated Hispanic markets. We believe we are well positioned to benefit when the economy recovers, given the strength of our brands and our ability to deliver the valuable Hispanic audience to advertisers."