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.
Read more on hollywoodreporter.com
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