The Spanish-language media giant, led by CEO Vincent Sadusky, had previously said it was targeting $125 million in cost reductions.
Spanish-language media giant Univision Communications, which earlier this year agreed to sell a
Univision swung to a second-quarter loss from continuing operations of $27.3 million, compared with a year-ago profit of $92.0 million. Quarterly adjusted operating income before depreciation and amortization , another profitability metric, fell 9 percent to $242.8 million. Media networks unit non-advertising revenue, including carriage fees and content licensing, was virtually unchanged at $292.4 million in the latest period as subscriber fees grew 3 percent,"primarily due to double-digit rate increases associated with the renewal of distributor contracts partially offset by subscriber losses.” Content licensing and other revenue dropped “due to the timing of delivery.
"This quarter’s ratings momentum, illustrated by the Univision Network as the #1 network regardless of language among adults 18-34 in primetime for a record 10 consecutive weeks and our Spanish-language viewing share at twice that of our closest Spanish-language competitor, demonstrate that Univision is the #1 destination for Hispanics during the COVID-19 pandemic," said Univision CEO Vincent Sadusky."Our digital platforms similarly saw record high traffic.
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