Univision said it is implementing a cost-cutting program including the jettisoning of several programs currently on the air and in development that would result in an $8 million to $12 million write off in the first quarter.
Word of the cost cuts came Feb. 12 when the company reported fourth quarter and year-end financial results. Fourth quarter pre-tax operating earnings were up 11% to $98 million on a 16% revenue gain to $238.9 million. For the year, operating income was up 23% to $328 million on a 25% revenue gain to $863.5 million. The company's stock was down 55 cents on the day Monday to $37.
- Steve McClellan