Welcome to our dedicated page for Entravision Communications Cp news (Ticker: EVC), a resource for investors and traders seeking the latest updates and insights on Entravision Communications Cp stock.
Entravision Communications Corporation reports news about its U.S. media operations and global advertising technology services. The company serves Latino audiences through television and radio stations, digital advertising services, and affiliate relationships with the Univision and UniMás networks, while providing programmatic advertising through Smadex and mobile growth solutions through Adwake.
Recurring developments include quarterly segment results, local and national advertising trends, retransmission consent revenue, political advertising, programmatic ad demand, product and technology additions, media partnerships, and leadership updates. Company announcements also cover distribution for bilingual and Spanish-language programming, including television, digital, audio, streaming, and social media channels.
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Entravision (NYSE: EVC) announced a new $275 million credit facility on March 17, 2023, replacing its previous facility from November 30, 2017. The facility includes a $200 million term loan A and a $75 million revolving credit line, led by Bank of America, Wells Fargo, and J.P. Morgan Chase. According to Interim CEO Chris Young, this move showcases the company’s financial strength amidst market volatility and enhances their balance sheet flexibility. The funds will support working capital needs, acquisitions, and corporate purposes. Further details can be found in their Current Report on Form 8-K.
Entravision Communications Corporation (NYSE: EVC) reported record financial results for Q4 and full year 2022, revealing a net revenue of $296.3 million, up 27% year-over-year, while annual revenue reached $956.2 million, marking a 26% increase. The company achieved record adjusted EBITDA figures but reported a net loss of $1.6 million for Q4, a significant decline from the previous year's net income of $3.9 million. Operating cash flow plummeted by 93%, and free cash flow decreased by 37%. Despite challenges, Entravision raised its quarterly dividend to $0.05 per share, reflecting a return to pre-pandemic levels. The company continues to strengthen its digital segment through strategic investments and partnerships.
Entravision (NYSE: EVC), a global advertising and media solutions company, is set to release its fourth quarter and full year 2022 financial results after market close on March 9, 2023. A conference call will be held at 5:00 p.m. ET to discuss these results. Interested participants can dial (844) 836-8739 in the U.S. or (412) 317-5440 internationally to access the call. A replay will be available until March 23, 2023. Entravision operates across digital, television, and audio sectors, with the digital segment being the largest revenue source, including programmatic ad purchasing and mobile performance solutions.
Entravision (NYSE: EVC) announced its partnership as the Authorized Sales Partner of Meta in Mongolia, aiming to enhance local advertising capabilities. This collaboration enables Entravision to provide strategic support, training, and dedicated resources to local advertisers, enhancing their advertising effectiveness in the market. CEO Pieter-Jan de Kroon emphasized their commitment to empower businesses with advanced advertising solutions. Meta's Managing Director for Emerging Markets, Jordi Fornies, highlighted the importance of investing in Mongolia, aiming to strengthen local business support during challenging times.
Entravision (NYSE: EVC) has launched Entravision Plus, a new platform designed to help companies reach Hispanic consumers through over-the-top (OTT) media and Connected TV (CTV). This initiative leverages data insights to enhance digital advertising results, targeting 90% of Hispanic consumers who stream video on smart devices. The service complements Entravision's existing digital offerings, including Digital Audio Ads and social media advertising. With Hispanic consumers watching 26+ hours of online video monthly, Entravision aims to optimize advertisers' connections with this growing demographic. The company believes Entravision Plus will fuel faster growth for its clients.
Entravision (NYSE: EVC) has announced its expansion into the Icelandic market as an Authorized Sales Partner of Meta, aiming to support local advertisers with services including training, lines of credit, and billing. With this launch, Entravision now operates in 14 countries representing the Meta platform. The Icelandic market boasts over 341,000 digitally connected consumers, presenting substantial growth potential. The initiative will be led by Thoranna K. Jonsdottir, who brings over 20 years of digital marketing experience. This partnership emphasizes Meta's commitment to enhancing advertising effectiveness through local expertise.
Entravision (NYSE:EVC) has announced a quarterly cash dividend of $0.05 per share, doubling its previous dividend of $0.025. This marks a return to pre-pandemic levels with an expected payout of approximately $4.4 million. The dividend is payable on March 31, 2023, to shareholders on record as of March 16, 2023, with the stock trading ex-dividend on March 15, 2023. Interim CEO Chris Young emphasized the strong cash position and confidence in sustainable growth as key factors driving this decision, showcasing a commitment to balanced capital allocation.
Entravision (NYSE: EVC) announced the passing of its Chairman and CEO, Walter F. Ulloa, on December 31, 2022, due to a heart attack. Ulloa, who founded Entravision over 25 years ago, played a pivotal role in transforming the company into a global digital media powerhouse. In light of his sudden death, the Board appointed Chris Young, the CFO, as Interim CEO. The Board is actively searching for a permanent replacement while expressing their deep condolences to Ulloa's family and highlighting his integral contributions to the company's success.