Jeffery Liberman Upped To President/COO As Entravision Revenues, Profit Rise In Fourth Quarter
March 2, 2017 at 1:40 PM (PT)
ENTRAVISION COMMUNICATIONS CORP. has upped COO JEFFERY LIBERMAN to President/COO. Chairman/CEO WALTER F. ULLOA said, "JEFF has helped grow and lead the company through his service, business insights, and commitment ever since joining ENTRAVISION almost two decades ago. He has been an integral part of our senior executive team in setting our strategic vision and executing on our business plans, in addition to his numerous contributions to serving the LATINO community."
"I am excited by this additional role and the opportunity to take on additional responsibilities in the future," said LIBERMAN. "I look forward to working together with our incredible team in developing and implementing new strategic business initiatives and continuing to engage with our advertising partners and our expanding audience."
Revenues, Profit Rise
The company's fourth-quarter revenue increased 7% to $70.291 million, with net income up 21% to $7.003 million (8 cents/basic and diluted share). Radio revenue rose 4% to $20.242 million. In addition, the company announced that it expects to reap $264 million from selling off some of its TV stations in the spectrum incentive auction, will pay a quarterly cash dividend of $0.03125 per share of the Company's Class A, Class B and Class U common stock (payable MARCH 31st to shareholders of record as of MARCH 14th), has prepaid $20 million of term loans during fourth quarter, and has reached agreement to buy HEADWAY, a digital marketing company with business primarily in the U.S., MEXICO, and LATIN AMERICA.
ULLOA said, "During the fourth quarter, we achieved revenue growth driven by increases in our television, radio and digital media segments. We also improved our free cash flow and net income over the fourth quarter of 2015. Additionally, we continued to grow our digital segment revenue and build our digital footprint through PULPO MEDIA which provides us with an integrated platform to connect advertisers and marketers with LATINO audiences. Looking ahead, we remain well positioned to build on our success in further attracting LATINO audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."