Wade Davis: Last News

Spanish-language media giant Univision Communications, which earlier this year agreed to sell a majority stake to an investor group led by former Viacom CFO Wade Davis, reported lower third-quarter financials amid the coronavirus pandemic, but advertising trends improved. The company, which previously said it was targeting $125 million in cost reductions, posted third-quarter earnings of $30.9 million, compared with a year-ago profit of $77.4 million.

Spanish-language media giant Univision Communications, which earlier this year agreed to sell a majority stake to an investor group led by former Viacom CFO Wade Davis, reported lower second-quarter financials amid the novel coronavirus pandemic. In its earnings update on Monday, the company, which previously said it was targeting $125 million in cost reductions, confirmed its forecast that advertising would materially weaken from the first quarter due to further postponements of live sports and lower demand from advertisers.

Dade Hayes Finance EditorUnivision swung to a loss of $27.3 million in the second quarter compared with income of $92 million in the same period a year ago.The main source of red ink was a 40% plunge in advertising, which reflected the extent of COVID-19’s onslaught, especially on sports broadcasts.The privately held Hispanic media company’s total revenue fell 24% to $531. In its Media Networks division, ad revenue dropped to $210 million from $347.2 million a year ago.The long-awaited sale of a majority stake of Univision, announced in February, is still pending.

By Anna Marie de la Fuente

Spanish-language media giant Univision Communications, which earlier this year agreed to sell a majority staketo an investor group led by former Viacom CFO Wade Davis, on Friday reported lower first-quarter earnings despite an 8 percent revenue gain as carriage and licensing fee gains outweighed the early negative hit from the novel coronavirus pandemic on advertising. The company said it is targeting $125 million in cost reductions as it predicted a bigger ad impact in the current second quarter.

Spanish-language media giant Univision Communications, which earlier this year agreed to sell a majority stake to  an investor group led by former Viacom CFO Wade Davis, reported lower first-quarter financials on Friday as the novel coronavirus pandemic started impacting advertising revenue in March.

As former Viacom CFO Wade Davis gets set to become CEO of Univision Communications later this year, the Spanish-language media giant on Monday said it was eyeing "potential refinancing transactions." The possible moves to reduce its debt burden come as Univision unveiled preliminary financial data for its first quarter ended March 31. As Univision discussed liquidity issues during the coronavirus pandemic, the company revealed it had "cash and cash equivalents of approximately $650 million, with additional availability under its senior secured revolving credit facilities of approximately $638 million," for total available liquidity of $1.28 billion as of the end of March.

As former Viacom CFO Wade Davis gets set to become CEO of Univision Communications later this year, the Spanish-language media giant on Monday said it was eyeing "potential refinancing transactions."

By Jill Goldsmith

Anna Marie de la Fuente Turkish telenovela adaptations, soccer programming, music and reality shows and amped-up news coverage are among the programming highlights of Univision’s 2020-21 content slate.The Spanish-language media giant hosted a virtual upfront presentation on Tuesday for media buyers.