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Entravision to Reduce Workforce, Implement Cost Cutting

In an 8k filing with the SEC, Spanish-language broadcaster Entravision Communications said it's undertaking an "extensive review" of its business in order to more efficiently align its operations and reduce costs. As part of the cost reduction, the company has implemented a reduction in workforce and what it calls "other discretionary expense cuts."

Entravision expects to recognize a charge of $750,000 in the second quarter of 2018 for severance costs related to these actions. Additionally, the company anticipates that these actions will result in $8 million in annualized savings beginning in the second quarter of 2018.

The company first disclosed the moves in its fourth quarter and full year 2017 financial results teleconference on March 14.

Quick Snaps
WZFX-FM/Fayetteville: WZFX was named Station of the Year/Medium Market at the 2018 North Carolina Association of Broadcasters Annual Awards Luncheon. The event took place on Thursday, June 14th at Bay 7 in Durham, NC. L-R: Erika Beasley/Beasley Media Group Fayetteville VP & Market Manager with WZFX Program Director Tap Money at NCAB Annual Awards.