Company: EVC
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034661
Chunk: 120

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 120
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 accounted for as purchase business combinations with the operations of the businesses included subsequent to their acquisition dates. The allocation of the respective purchase prices is generally based upon independent appraisals and or management’s estimates of the discounted future cash flows to be generated from the media properties for intangible assets, and replacement cost for tangible assets. Deferred income taxes are provided for temporary differences based upon management’s best estimate of the tax basis of acquired assets and liabilities that will ultimately be accepted by the applicable taxing authority.BCNMonetizeOn May 19, 2023, the Company acquired 100% of the issued and outstanding shares of stock of BCNMonetize, a global mobile app marketing solutions company headquartered in Barcelona, Spain. The acquisition, funded from the Company’s cash on hand, included an initial purchase price of $6.0 million in cash, which amount was adjusted at closing to $7.2 million due to customary purchase price adjustments for cash, indebtedness and estimated working capital. Additionally, the transaction includes contingent earn-out payments based upon the achievement of certain EBITDA targets in calendar years 2023 through 2026, calculated as a predetermined multiple of EBITDA for each of those years. The total purchase price for the acquisition, including the fair value of the contingent consideration, was $8.8 million.The following is a summary of the final purchase price allocation (in millions):  

        Cash  
        $
        0.8

        Accounts receivable  
         
        2.8

        Other assets   
         
        0.7

        Intangible assets subject to amortization
         
        4.2

F-16

        Goodwill
         
        3.5

        Current liabilities  
         
        (2.1
        ) 

        Deferred tax
         
        (1.1
        )
       
      Intangible assets subject to amortization acquired includes: 

        Intangible Asset
        EstimatedFair Value(in millions)
         
        Weightedaveragelife (in years)

        Publisher relationships
        $
        2.2
         
        3.0

        Advertiser relationships 
         
        1.5
         
        1.0

        Trade name
         
        0.3
         
        1.0

        Non-Compete agreements 
         
        0.2
         
        1.5

       The fair value of the assets acquired includes trade receivables of $2.8 million. The