What's Going On With Entravision?
Entravision (EVC) today announced it has finalized the full acquisition of the remaining 49% interest in Cisneros Interactive, making Entravision one of the premier global digital advertising solutions companies.
Shares of the company were trading higher 12.77% to $7.87 a share on Wednesday.
What Does This Mean For Entravision?
Entravision has significantly expanded its digital market offerings in several key areas, including Top Tier global audience and media representations; programmatic technology; digital audio solutions advertising and branding; and mobile performance solutions.
“We are very pleased to continue to invest in the Cisneros Interactive – Entravision business to enhance our digital market leadership,” said Walter Ulloa, Chairman and Chief Executive Officer of Entravision. Adding, “this joint venture has been a great addition to Entravision, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in Cisneros Interactive, and we plan to continue to invest in expanding our global footprint, management and digital service tools.”
As a result, digital now represents 73% of consolidated revenue as of the most recently reported quarter ended June 30, 2021.
Entravision Communications Corporation operates as a media, marketing, and technology company worldwide. The company operates through three segments: Television, Radio, and Digital.
EVC has an Overall Score of 80. Find out what this means to you and get the rest of the rankings on EVC!
Entravision Communications Corp is a global media company. Its operations encompass integrated marketing and media solutions, comprised of television, radio, and digital properties and data analytics services. The company operates in television broadcasting, radio broadcasting, and digital media segments. It owns and operates more than 45 radio stations in 16 U.S. markets. The radio stations consist of approx 38 FM and 10 AM stations located in Arizona, California, Colorado, Florida, Nevada, New Mexico, and Texas. It also provides digital advertising solutions that allow advertisers to reach primarily online Hispanic audiences worldwide.
