Entravision Reports Q4, Full-Year Loss2/29/2008 07:00:00 PM Eastern
Spanish-language broadcaster Entravision Communications reported a fourth-quarter net loss of $48 million compared with a net profit of $21 million for the same period a year earlier, on revenues that slipped 3% to $62.5 million.
For the full year, the company's net loss improved to $44 million versus $134.6 million during the prior year. Full-year revenues fell 2% to $250 million.
During 2007, Entravision repurchased 7.2 million shares at a cost of $60.7 million. The company also announced that it will sell its outdoor-advertising division for $100 million.
Among its holdings, Entravision owns television stations in 20 of the top 50 Hispanic markets. It is the largest affiliate group of both Univision and Univision's TeleFutura network.