Impairment Charge Results in Univision Loss

NEW YORK, March 6: At
Univision Communications, an impairment charge of $190.6 million, related to
its music business, has resulted in the company posting a fourth-quarter loss
of $201.5 million.

This is a dramatic drop on
the leading U.S. Hispanic broadcaster’s $99.7 million profit in the same period
last year. The company delivered revenues in the period of $544.3 million, a
6.1-percent gain on the year-ago period.

For the full year, net
revenue increased 8.4 percent to $2.1 billion, excluding 2006 FIFA World Cup
estimated incremental net revenues of $113.6 million. Including World Cup
incremental revenue in 2006, net revenue increased 2.3 percent.

Joe Uva,
the company’s CEO, said: “2007 has been a tremendous year for Univision and I’m
incredibly proud of all we have achieved. From the smooth transition to new
ownership, to reorganizing and refocusing our advertising sales structure, to
implementing a host of initiatives to inform and educate our audience, we
achieved many milestones while cementing Univision’s position as the leading
Spanish language media company.”

—By Mansha Daswani