Company: EVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000950170-25-066954
Chunk: 4

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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Overview 

Entravision owns and operates one of the largest groups of Spanish language television and radio stations in the United States. Our mission is to serve our Latino audience as a trusted provider of useful news, information and entertainment and to serve our advertisers by providing multi-channel marketing capabilities to engage our audience.

Entravision also owns and operates a smaller group of television stations that broadcast English language programming and has operations that provide programmatic advertising technology and services. We have organized our operations into two reportable segments. Our media segment includes our television, radio and digital marketing operations. Our advertising and technology services segment provides programmatic advertising and technology services through Smadex, our demand-side programmatic advertising purchasing platform, and Adwake, our performance-based media advertising agency.

In 2024, we discontinued and divested a significant portion of our operations, which consisted primarily of several acquisitions that had been completed prior to 2024, and which operations comprised the majority of our former digital segment.   

Our net revenue for the three-months period ended March 31, 2025 was $91.9 million. Of this amount, revenue generated by our media segment accounted for approximately 45%, and revenue generated by our advertising technology & services segment accounted for approximately 55% of total revenue.

Highlights 

During the first quarter of 2025, our revenue grew by double digits in the first quarter of 2025 compared to the comparable period of 2024, driven primarily by growth of our advertising technology & services segment, partially offset by a decrease in revenue in our media segment. In addition, during the first quarter of 2025 we:

•entered into an LOI to sell two television stations located in Mexico;

•recorded an impairment charge of $23.7 million related to broadcast licenses and fixed assets of these two television stations; 

•decided to vacate our previous corporate headquarters in Santa Monica, California and cease making further payments under the lease; 

•recorded a loss on lease abandonment charges of $16.1 million related to the acceleration of amortization of the right of use asset associated with this lease, and $9.1 related to the acceleration of depreciation of the leasehold improvements associated with this lease;

•continued to reduce certain expenses, including a reduction in the base salary and cash bonus components of our three most senior executives' compensation. 

Relationship with TelevisaUnivision 

Our network affiliation agreement with TelevisaUnivision provides certain of our owned stations the exclusive right to broadcast TelevisaUnivision