Entravision Q4 Net Revenue Down 16%, Loss Widens

RADIO ONLINE | , , | :am CT

Entravision reported fourth quarter net revenue fell 16% to $52.7 million from $62.1 million in 2007. Net revenues from the Spanish-language broadcaster's radio unit declined 15% to $19.3 million from $23.1 million. The company posted a net loss of $134.1 million ($1.58 per share) on an impairment charge compared to a net loss of $447 million (48 cents) in the year-ago period.

Chairman/CEO Walter F. Ulloa commented, "Our fourth quarter results reflect the continuing impact of the global financial crisis and the recession, resulting in an advertising downturn. We are continuing to focus on debt reduction and are committed to further reducing our costs and operating as efficiently as possible in order to maximize our cash flows, without sacrificing the quality of our content or marketing efforts."