Univision Communications reported robust fourth quarter financials, culminating in a banner year for the U.S. Hispanic media giant.
“Our fourth quarter marked a strong finish to a very positive year for Univision where we achieved the highest revenue and adjusted Oibda [operating income before depreciation and amortization] in the history of our company. [We] generated nearly $219 million in net income and reduced our net debt by $400 million while still investing approximately $160 million in strategic digital assets,” said Univision President and CEO Randy Falco.
In addition, Univision, which participated in the FCC’s Broadcast Incentive Auction to monetize a portion of its spectrum assets, expects to receive an estimated $376 million in proceeds from the FCC spectrum auction in 2017, which it will use to further draw down its debt.
The Spanish-language media conglomerate, which posted a fourth-quarter net income of $108.0 million compared with a year-ago net income of $8.8 million, has been planning an Ipo in recent years.
Univision’s fourth quarter revenue spiked 15 percent to »
- Anna Marie de la Fuente
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