Univision Reports 2008 and Fourth Quarter Losses

NEW YORK: Univision Communications, the leading Spanish-language media company in the U.S., has posted losses for both the fourth quarter and full year 2008.

For the fourth quarter of 2008, net revenue declined 7.8 percent to $502.1 million from $544.3 million in 2007 and Univision posted a net loss of $2 billion, versus the $201.5 million loss in the year-ago period. 

For the year ended December 31, 2008, net revenue decreased 2.5 percent to $2.02 billion from $2.07 billion, while the net loss for the year was $5.1 billion.

Joe Uva, Univision’s CEO, 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 prime time 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 number one station among adults 18-49 during prime time, 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.”