Univision Q4 Net Revenue Up 1% to $692.9M, Radio Down 8%
| RADIO ONLINE | Friday, February 28, 2020 | 12:48pm CT |
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 Univision |
Univision Communications reported fourth quarter net revenue increased 1% to $692.9 million from $688.5 million in 2018. Q4 revenue for the radio segment declined 8% to $66.1 million, compared to $71.9 million. Radio ad revenue fell 8% to $60.9 million from $66.2 million, while core radio advertising revenue was down 2% to $57.9 million from $59.2 million. Adjusted OIBDA increased 1% to $230.4 million from $229 million. The company reported a net income of $93.9 million as compared to a loss of $40.2 million.
"In the fourth quarter, Univision's network portfolio had the greatest growth in Prime viewership and was the only network group to increase Total Day viewers among top-10 U.S. Media holders. This is a testament to the strength of the U.S. Hispanic Community and to our focus and execution in serving the greatest number of Hispanics every day, with consumption that rivals the most highly viewed English language broadcast networks," said CEO Vince Sadusky.
"As Hispanics continue to fuel the U.S. economy, distributors and advertisers, including political campaigns, are recognizing Hispanic consumers are critical to drive growth."
"Looking ahead to 2020, we have begun the year with the largest ratings lead over our competitors in years, and anticipate a record first quarter in political advertising revenue, as candidates understand that 32 million eligible U.S. Hispanics will be the largest racial or ethnic minority group in the electorate."
Earlier this week, the Spanish-language broadcaster agreed to sell a majority stake to the private-equity firm Searchlight Capital Partners and a ForgeLight, a company founded by a former Viacom Inc. senior executive Wade Davis. Davis and Searchlight are acquiring up to a 64% of Univision for an undisclosed price, estimated at $10 billion including debt. Mexico City's Grupo Televisa will retain its nearly 36% stake. Davis will become CEO of Univision following the completion of the deal.
