Monday, March 30, 2009
Univision Announces 2008 Fourth Quarter and Full Year Results
NEW YORK, Mar 30, 2009 (BUSINESS WIRE) ----Univision Communications Inc., the leading Spanish-language media company in the United States, today announced financial results for the fourth quarter and full year ended December 31, 2008. For the fourth quarter of 2008, net revenue declined 7.8% to $502.1 million from $544.3 million in 2007 and adjusted operating income before depreciation and amortization(1) decreased 13.9% to $213.5 million in the fourth quarter of 2008 from $248.0 million in 2007. For the year ended December 31, 2008, net revenue decreased 2.5% to $2,020.3 million in 2008 from $2,072.8 million in 2007 and OIBDA decreased 7.5% to $798.2 million in 2008 from $863.3 million in 2007.
Joe Uva, chief executive officer, said, "Our fourth quarter results reflect an operating environment that was among the most difficult we have seen across most industries. Nevertheless, we continued to meet our key near-term goals of maintaining ample liquidity to operate our business, successfully negotiating favorable retransmission agreements and aggressively managing costs. In the fourth quarter 2008, Univision was the only major broadcast network to grow its audience in primetime among Adults 18-49, while the major English-language networks, ABC, CBS, FOX, NBC, and CW, saw their own audiences decline; and Univision's Los Angeles television station beat all other stations in the country to rank as the #1 station among Adults 18-49 during primetime, total day, early local news and late local news for the entire year."
Uva continued: "With our resolute focus on our goal of becoming the most valued and valuable partner among all of our viewers, listeners, online users, mobile customers, advertisers and distributors, we remain confident that we are taking the right steps and we believe we are well-positioned to rebound quickly when the climate improves." CLICK HERE FOR MORE.