Entravision Acquires Remaining Stake In Lotus Entravision Reps
January 10, 2011 at 7:57 AM (PT)
ENTRAVISION COMMUNICATIONS CORPORATION has acquired the remaining 50% interest in LOTUS ENTRAVISION REPS, a national sales rep firm representing more than 156 Spanish-language radio stations, from LOTUS COMMUNICATIONS CORP. Specific terms of the transaction were not disclosed.
"We are extremely pleased to have reached an agreement to acquire complete ownership of LER," stated ENTRAVISION Chairman/CEO WALTER F. ULLOA. "LER has a strong market position and deep relationships with many of the nation's leading advertisers and agencies. LER has a proven track record and attractive growth profile given the rapidly expanding U.S. Hispanic population and the continued recovery in the advertising market."
LER was formed in 2001 and is the exclusive national sales force for 156 stations that serve U.S. Hispanic markets. The LER station lineup reaches approximately 68% of the U.S. Hispanic market.