Entravision Communications Corporation Reports Fourth Quarter and Full Year 2015 Results

Entravision Communications Corporation Reports Fourth Quarter and Full Year 2015 Results

- Announces Quarterly Cash Dividend of $0.03125 Per Share -

- Prepays $20 Million of Term Loan in the Fourth Quarter -

SANTA MONICA, Calif., Feb. 25, 2016 /PRNewswire/ -- Entravision Communications Corporation (NYSE: EVC) today reported financial results for the three- and twelve-month periods ended December 31, 2015.

Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure is included beginning on page 9. Unaudited financial highlights are as follows:


Three Months Ended Twelve Months Ended

December 31, December 31,
------------ ------------

2015 2014 % Change 2015 2014 % Change
---- ---- -------- ---- ---- --------

Net revenue $65,432 $65,262 0% $254,134 $242,038 5%

Cost of revenue - digital media (1) 2,609 1,504 73% 7,242 2,993 142%

Operating expenses (2) 39,620 38,228 4% 153,138 142,680 7%

Corporate expenses (3) 6,942 6,305 10% 22,520 21,301 6%

Consolidated adjusted EBITDA (4) 18,782 21,333 (12)% 76,324 79,277 (4)%

Free cash flow (5) $13,523 $15,695 (14)% $49,673 $56,775 (13)%

Free cash flow per share, basic (5) $0.15 $0.18 (17)% $0.56 $0.64 (13)%

Free cash flow per share, diluted (5) $0.15 $0.17 (12)% $0.55 $0.62 (11)%

Net income $5,807 $5,942 (2)% $25,625 $27,122 (6)%

Net income per share, basic $0.07 $0.07 0% $0.29 $0.31 (6)%

Net income per share, diluted $0.06 $0.07 (14)% $0.28 $0.30 (7)%

Weighted average common shares outstanding, basic 88,217,563 87,587,916 87,920,230 88,680,322

Weighted average common shares outstanding, diluted 90,570,304 90,395,102 90,295,185 90,943,734


(1) Cost of revenue consists primarily of the costs of online media acquired from third-party publishers. Media cost is classified as cost of revenue in the period in
which the corresponding revenue is recognized.


(2) Operating expenses include direct operating, selling, general and administrative expenses. Included in operating expenses are $1.0 million and $0.8 million of non-cash stock-based compensation for the three-month periods ended December 31, 2015 and 2014, respectively, and $1.9 million and $1.3 million of non-cash
stock-based compensation for the twelve-month periods ended December 31, 2015 and 2014, respectively. Operating expenses do not include corporate expenses, depreciation and amortization, impairment charge, gain (loss) on sale of assets, gain (loss) on debt extinguishment and other income (loss).


(3) Corporate expenses include $1.6 million and $1.4 million of non-cash stock-based compensation for the three-month periods ended December 31, 2015 and 2014, respectively, and $3.3 million and $3.1 million of non-cash stock-based compensation for the twelve-month periods ended December 31, 2015 and 2014, respectively.


(4) Consolidated adjusted EBITDA means net income (loss) plus gain (loss) on sale of assets, depreciation and amortization, non-cash impairment charge, non-cash stock-based compensation included in operating and corporate expenses, net interest expense, other income (loss), gain (loss) on debt extinguishment, income tax
(expense) benefit, equity in net income (loss) of nonconsolidated affiliate, non-cash losses and syndication programming amortization less syndication programming payments. We use the term consolidated adjusted EBITDA because that measure is defined in our credit facility and does not include gain (loss) on sale of
assets, depreciation and amortization, non-cash impairment charge, non-cash stock-based compensation, net interest expense, other income (loss), gain (loss) on debt extinguishment, income tax (expense) benefit, equity in net income (loss) of nonconsolidated affiliate, non-cash losses and syndication programming
amortization and does include syndication programming payments. While many in the financial community and we consider consolidated adjusted EBITDA to be important, it should be considered in addition to, but not as a substitute for or superior to, other measures of liquidity and financial performance prepared in
accordance with accounting principles generally accepted in the United States of America, such as cash flows from operating activities, operating income and net income. As consolidated adjusted EBITDA excludes non-cash gain (loss) on sale of assets, non-cash depreciation and amortization, non-cash impairment charge,
non-cash stock-based compensation expense, net interest expense, other income (loss), gain (loss) on debt extinguishment, income tax (expense) benefit, equity in net income (loss) of nonconsolidated affiliate, non-cash losses and syndication programming amortization and includes syndication programming payments,
consolidated adjusted EBITDA has certain limitations because it excludes and includes several important non-cash financial line items. Therefore, we consider both non-GAAP and GAAP measures when evaluating our business. Consolidated adjusted EBITDA is also used to make executive compensation decisions.


(5) Free cash flow is defined as consolidated adjusted EBITDA less cash paid for income taxes, net interest expense, and capital expenditures. Net interest expense is defined as interest expense, less non-cash interest expense relating to amortization of debt finance costs, and less interest income. Free cash flow per share
is defined as free cash flow divided by the basic or diluted weighted average common shares outstanding.


Commenting on the Company's earnings results, Walter F. Ulloa, Chairman and Chief Executive Officer, said, "During the fourth quarter, we achieved revenue growth driven by increases in our radio and digital media segments, as well as an increase in core television advertising revenue (excluding retransmission consent revenue and political advertising revenue). We continued to build our digital footprint through the acquisition of Pulpo Media in June 2014, which provides us with an integrated platform to allow advertisers and marketers to connect with Latino audiences. Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."

Quarterly Cash Dividend and Prepayment of Outstanding Debt
The Company announced today that its Board of Directors has approved a quarterly cash dividend to shareholders of $0.03125 per share of the Company's Class A, Class B and Class U common stock, in an aggregate amount of approximately $2.8 million. The quarterly dividend will be payable on March 31, 2016 to shareholders of record as of the close of business on March 11, 2016, and the common stock will trade ex-dividend on March 9, 2016. As previously announced, the Company currently anticipates that future cash dividends will be paid on a quarterly basis; however, any decision to pay future cash dividends will be subject to further approval by the Board.

During the fourth quarter of 2015, the Company voluntarily prepaid $20.0 million of term loans under the Company's senior secured term loan credit facility.


Financial Results


Three-Month Period Ended December 31, 2015 Compared to Three-Month Period Ended

December 31, 2014

(Unaudited)


Three Months Ended

December 31,
------------

2015 2014 % Change
---- ---- --------

Net revenue $65,432 $65,262 0%

Cost of revenue - digital media (1) 2,609 1,504 73%

Operating expenses (1) 39,620 38,228 4%

Corporate expenses (1) 6,942 6,305 10%

Depreciation and amortization 4,039 3,860 5%

Impairment charge - 735 (100)%
--- ---

Operating income 12,222 14,630 (16)%

Interest expense, net (3,264) (3,483) (6)%

Gain (loss) on debt extinguishment (204) (246) (17)%
---- ----

Income before income taxes 8,754 10,901 (20)%

Income tax (expense) benefit (2,947) (4,959) (41)%
------ ------

Net income $5,807 $5,942 (2)%
====== ======


(1) Cost of revenue, operating
expenses and corporate
expenses are defined on
page 1.


Net revenue increased to $65.4 million for the three-month period ended December 31, 2015 from $65.3 million for the three-month period ended December 31, 2014, an increase of $0.1 million. Of the overall increase, approximately $1.1 million was attributed to our radio segment and was primarily attributable to increases in local and national advertising revenue, partially offset by the absence of significant political advertising revenue in 2015 compared to 2014. Additionally, approximately $2.5 million of the overall increase was attributed to our digital segment, and was primarily attributable to increases in local and national advertising revenue. These increases were partially offset by a decrease of $3.5 million that was attributed to our television segment, primarily due to the absence of significant political advertising revenue in 2015 compared to 2014, and a decrease in local advertising revenue, partially offset by an increase in national advertising revenue and an increase in retransmission consent revenue.

Cost of revenue increased to $2.6 million for the three-month period ended December 31, 2015 from $1.5 million for the three-month period ended December 31, 2014, an increase of $1.1 million, due to increased online media costs associated with the increase in our digital net revenue.

Operating expenses increased to $39.6 million for the three-month period ended December 31, 2015 from $38.2 million for the three-month period ended December 31, 2014, an increase of $1.4 million. The increase was primarily attributable to the increase in operating expenses of Pulpo Media Inc. ("Pulpo"), which we acquired in June 2014, and increases in rent expense, and salary expense.

Corporate expenses increased to $6.9 million for the three-month period ended December 31, 2015 from $6.3 million for the three-month period ended December 31, 2014, an increase of $0.6 million. The increase was primarily attributable to an increase in non-cash compensation and salary expense.


Twelve-Month Period Ended December 31, 2015 Compared to Twelve -Month Period Ended

December 31, 2014

(Unaudited)


Twelve Months Ended

December 31,
------------

2015 2014 % Change
---- ---- --------

Net revenue $254,134 $242,038 5%

Cost of revenue - digital media (1) 7,242 2,993 142%

Operating expenses (1) 153,138 142,680 7%

Corporate expenses (1) 22,520 21,301 6%

Depreciation and amortization 15,989 14,663 9%

Impairment charge - 735 (100)%
--- ---

Operating income 55,245 59,666 (7)%

Interest expense, net (13,002) (13,854) (6)%

Gain (loss) on debt extinguishment (204) (246) (17)%
---- ----

Income before income taxes 42,039 45,566 (8)%

Income tax (expense) benefit (16,414) (18,444) (11)%
------- -------

Net income $25,625 $27,122 (6)%
======= =======


(1) Operating expenses and
corporate expenses are
defined on page 1.


Net revenue increased to $254.1 million for the twelve-month period ended December 31, 2015 from $242.0 million for the twelve-month period ended December 31, 2014, an increase of $12.1 million. Of the overall increase, $6.3 million was attributed to our radio segment and was primarily attributable to increases in local and national advertising revenue, partially offset by the absence of World Cup and significant political advertising revenue in 2015 compared to 2014. Additionally, approximately $12.2 million of the overall increase was attributed to our digital segment, resulting from our acquisition of Pulpo in June 2014 and which did not contribute to results in the full comparable period in 2014. These increases were partially offset by a decrease of $6.4 million that was attributed to our television segment, primarily due to the absence of World Cup and significant political advertising revenue in 2015 compared to 2014, and a decrease in local advertising revenue, partially offset by an increase of approximately $10.5 million of revenue associated with television station channel modifications made by the Company in order to accommodate the operations of a telecommunications operator, and an increase in retransmission consent revenue.

Cost of revenue increased to $7.2 million for the twelve-month period ended December 31, 2015 from $3.0 million for the twelve-month period ended December 31, 2014, resulting from our acquisition of Pulpo in June 2014 and which did not contribute to results in the full comparable period in 2014.

Operating expenses increased to $153.1 million for the twelve-month period ended December 31, 2015 from $142.7 million for the twelve-month period ended December 31, 2014, an increase of $10.4 million. The increase was primarily attributable to the increase in operating expenses of Pulpo, which we acquired in June 2014 and which did not contribute to results in the full comparable period in 2014, and increases in rent expense, salary expense, and promotional expenses, including event expenses associated with our radio network upfront.

Corporate expenses increased to $22.5 million for the twelve-month period ended December 31, 2015 from $21.3 million for the twelve-month period ended December 31, 2014, an increase of $1.2 million. The increase was primarily attributable to an increase in salary expense and legal expense, partially offset by transaction costs associated with the acquisition of Pulpo in June 2014 that did not recur in 2015.


Segment Results

The following represents selected unaudited segment information:


Three Months Ended Twelve Months Ended

December 31, December 31,
------------ ------------

2015 2014 % Change 2015 2014 % Change
---- ---- -------- ---- ---- --------

Net Revenue

Television $39,789 $43,279 (8)% $159,081 $165,472 (4)%

Radio 19,376 18,231 6% 76,161 69,922 9%

Digital 6,267 3,752 67% 18,892 6,644 184%
----- ----- ------ -----

Total $65,432 $65,262 0% $254,134 $242,038 5%

Cost of Revenue - digital media (1)

Digital $2,609 $1,504 73% $7,242 $2,993 142%

Operating Expenses (1)

Television $20,738 $21,087 (2)% $80,666 $80,847 (0)%

Radio 15,973 14,970 7% 61,970 58,122 7%

Digital 2,909 2,171 34% 10,502 3,711 183%
----- ----- ------ -----

Total $39,620 $38,228 4% $153,138 $142,680 7%

Corporate Expenses (1) $6,942 $6,305 10% $22,520 $21,301 6%

Consolidated adjusted EBITDA (1) $18,782 $21,333 (12)% $76,324 $79,277 (4)%


(1) Cost of revenue, operating expenses, corporate expenses, and consolidated adjusted EBITDA are defined on page 1.


Entravision Communications Corporation will hold a conference call to discuss its 2015 fourth quarter and full year results on February 25, 2016 at 5 p.m. Eastern Time. To access the conference call, please dial 412-317-5440 ten minutes prior to the start time. The call will be webcast live and archived for replay on the investor relations portion of the Company's Web site located at www.entravision.com.

Entravision Communications Corporation is a diversified media company serving Latino audiences and communities with an integrated platform of solutions and services that includes television, radio and digital media to reach Latino audiences across the United States and Latin America. Entravision has 56 primary television stations, including in 20 of the nation's top 50 Latino markets, and is the largest affiliate group of both the top-ranked Univision television network and Univision's UniMás network. Entravision also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 49 owned and operated radio stations, and Entravision Solutions, a national sales representation and marketing organization specializing in Spanish-language media platforms and radio networks. Entravision also offers a variety of digital media platforms and services, including digital content and digital advertising platforms, including the #1-ranked online advertising platform in Hispanic reach according to comScore Media Metrix®, designed to maximize the opportunity for advertisers and marketers to connect with the growing Latino consumer market. Entravision shares of Class A Common Stock are listed on The New York Stock Exchange and trade under the symbol: EVC.

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission.

(Financial Table Follows)




Entravision Communications Corporation

Consolidated Balance Sheets

(In thousands; unaudited)


December 31, December 31,

2015 2014
---- ----

ASSETS

Current assets

Cash and cash equivalents $47,924 $31,260

Trade receivables, net of allowance for
doubtful accounts 66,399 64,956

Prepaid expenses and other current assets 5,705 5,295
----- -----

Total current assets 120,028 101,511

Property and equipment, net 57,874 56,784

Intangible assets subject to amortization,
net 16,656 20,193

Intangible assets not subject to
amortization 220,701 220,701

Goodwill 50,081 50,081

Deferred income taxes 57,929 72,458

Other assets 4,919 6,039
----- -----

Total assets $528,188 $527,767
======== ========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Current maturities of long-term debt $3,750 $3,750

Advances payable, related parties 118 118

Accounts payable and accrued expenses 29,669 32,195
------ ------

Total current liabilities 33,537 36,063

Long-term debt, less current maturities 312,813 336,563

Other long-term liabilities 14,565 9,583

Total liabilities 360,915 382,209
------- -------

Stockholders' equity

Class A common stock 6 6

Class B common stock 2 2

Class U common stock 1 1

Additional paid-in capital 910,228 912,161

Accumulated deficit (738,849) (764,474)

Accumulated other comprehensive income
(loss) (4,115) (2,138)
------ ------

Total stockholders' equity 167,273 145,558
------- -------

Total liabilities and stockholders' equity $528,188 $527,767
======== ========





Entravision Communications Corporation

Consolidated Statements of Operations

(In thousands, except share and per share data)

(Unaudited)


Three-Month Period Twelve-Month Period

Ended December 31, Ended December 31,
------------------ ------------------

2015 2014 2015 2014
---- ---- ---- ----

Net revenue $65,432 $65,262 $254,134 $242,038
------- ------- -------- --------

Expenses:

Cost of revenue - digital media 2,609 1,504 7,242 2,993

Direct operating expenses 28,970 28,142 110,323 104,874

Selling, general and administrative expenses 10,650 10,086 42,815 37,806

Corporate expenses 6,942 6,305 22,520 21,301

Depreciation and amortization 4,039 3,860 15,989 14,663

Impairment charge - 735 - 735
--- --- --- ---

53,210 50,632 198,889 182,372
------ ------ ------- -------

Operating income 12,222 14,630 55,245 59,666

Interest expense (3,278) (3,496) (13,047) (13,904)

Interest income 14 13 45 50

Gain (loss) on debt extinguishment (204) (246) (204) (246)
---- ---- ---- ----

Income before income taxes 8,754 10,901 42,039 45,566

Income tax (expense) benefit (2,947) (4,959) (16,414) (18,444)
------ ------ ------- -------

Net income $5,807 $5,942 $25,625 $27,122
====== ====== ======= =======

Basic and diluted earnings per share:

Net income per share, basic $0.07 $0.07 $0.29 $0.31
===== ===== ===== =====

Net income per share, diluted $0.06 $0.07 $0.28 $0.30
===== ===== ===== =====


Cash dividends declared per common share, basic $0.03 $0.02 $0.11 $0.10
===== ===== ===== =====

Cash dividends declared per common share, diluted $0.03 $0.02 $0.10 $0.10
===== ===== ===== =====


Weighted average common shares outstanding, basic 88,217,563 87,587,916 87,920,230 88,680,322
========== ========== ========== ==========

Weighted average common shares outstanding, diluted 90,570,304 90,395,102 90,295,185 90,943,734
========== ========== ========== ==========


(1) Certain amounts in the prior period consolidated financial statements have been reclassified to conform to current period presentation.





Entravision Communications Corporation

Consolidated Statements of Cash Flows

(In thousands; unaudited)


Three-Month Period Twelve-Month Period

Ended December 31, Ended December 31,
------------------ ------------------

2015 2014 2015 2014
---- ---- ---- ----


Cash flows from operating activities:

Net income $5,807 $5,942 $25,625 $27,122

Adjustments to reconcile net income to net cash provided by
operating activities:

Depreciation and amortization 4,039 3,860 15,989 14,663

Impairment charge - 735 - 735

Deferred income taxes 2,900 4,814 15,664 17,585

Amortization of debt issue costs 202 209 797 820

Amortization of syndication contracts 98 86 360 440

Payments on syndication contracts (133) (137) (510) (578)

Non-cash stock-based compensation 2,556 2,159 5,240 4,351

(Gain) loss on debt extinguishment 204 246 204 246

Changes in assets and liabilities, net of effect of acquisitions
and dispositions:

(Increase) decrease in trade receivables (1,974) (605) 871 (6,128)

(Increase) decrease in prepaid expenses and other current 579 985 (499) (1,183)
assets

Increase (decrease) in accounts payable, accrued 1,121 2,009 (1,458) (3,661)
expenses and other liabilities


Net cash provided by operating activities 15,399 20,303 62,283 54,412
------ ------ ------ ------

Cash flows from investing activities:

Purchases of property and equipment and intangibles (2,150) (2,219) (13,696) (8,609)

Purchase of a business, net of cash acquired - - - (15,048)
--- --- --- -------

Net cash used in investing activities (2,150) (2,219) (13,696) (23,657)
------ ------ ------- -------

Cash flows from financing activities:

Proceeds from issuance of common stock 363 24 2,177 1,841

Payments on long-term debt (20,937) (21,875) (23,750) (23,750)

Dividend paid (2,759) (2,178) (9,350) (8,865)

Repurchase of Class A common stock - (9,061) - (12,543)

Payment of contingent consideration - - (1,000) -

Net cash used in financing activities (23,333) (33,090) (31,923) (43,317)
------- ------- ------- -------

Net increase (decrease) in cash and cash (10,084) (15,006) 16,664 (12,562)
equivalents

Cash and cash equivalents:

Beginning 58,008 46,266 31,260 43,822
------ ------ ------ ------

Ending $47,924 $31,260 $47,924 $31,260
======= ======= ======= =======





Entravision Communications Corporation

Reconciliation of Consolidated Adjusted EBITDA to Cash Flows From Operating Activities

(In thousands; unaudited)


The most directly comparable GAAP financial measure is operating cash flow. A reconciliation of this non-GAAP measure to cash flows from operating activities for each of the periods presented is as follows:


Three-Month Period Twelve-Month Period

Ended December 31, Ended December 31,
------------------ ------------------

2015 2014 2015 2014
---- ---- ---- ----

Consolidated adjusted EBITDA (1) $18,782 $21,333 $76,324 $79,277

Interest expense (3,278) (3,496) (13,047) (13,904)

Interest income 14 13 45 50

Gain (loss) on debt extinguishment (204) (246) (204) (246)

Income tax (expense) benefit (2,947) (4,959) (16,414) (18,444)

Amortization of syndication contracts (98) (86) (360) (440)

Payments on syndication contracts 133 137 510 578

Non-cash stock-based compensation included in direct operating

expenses (951) (799) (1,931) (1,294)

Non-cash stock-based compensation included in corporate (1,605) (1,360) (3,309) (3,057)
expenses

Depreciation and amortization (4,039) (3,860) (15,989) (14,663)

Impairment charge - (735) - (735)

Net income 5,807 5,942 25,625 27,122

Depreciation and amortization 4,039 3,860 15,989 14,663

Impairment charge - 735 - 735

Deferred income taxes 2,900 4,814 15,664 17,585

Amortization of debt issuance costs 202 209 797 820

Amortization of syndication contracts 98 86 360 440

Payments on syndication contracts (133) (137) (510) (578)

Non-cash stock-based compensation 2,556 2,159 5,240 4,351

(Gain) loss on debt extinguishment 204 246 204 246

Changes in assets and liabilities:

(Increase) decrease in accounts receivable (1,974) (605) 871 (6,128)

(Increase) decrease in prepaid expenses and other assets 579 985 (499) (1,183)

Increase (decrease) in accounts payable, accrued expenses and 1,121 2,009 (1,458) (3,661)
other liabilities


Net cash provided by (used in ) operating activities $15,399 $20,303 $62,283 $54,412
======= ======= ======= =======


(1) Consolidated adjusted EBITDA is
defined on page 1.





Entravision Communications Corporation

Reconciliation of Free Cash Flow to Net Income (Loss)

(In thousands; unaudited)


The most directly comparable GAAP financial measure is net income (loss). A reconciliation of this non-GAAP measure to net income (loss) for each of the periods presented is as follows:


Three-Month Period Twelve-Month Period

Ended December 31, Ended December 31,
------------------ ------------------

2015 2014 2015 2014
---- ---- ---- ----

Consolidated adjusted EBITDA (1) $18,782 $21,333 $76,324 $79,277

Net interest expense (1) 3,062 3,274 12,205 13,034

Cash paid for income taxes 47 145 750 859

Capital expenditures (2) 2,150 2,219 13,696 8,609

Free cash flow (1) 13,523 15,695 49,673 56,775

Capital expenditures (2) 2,150 2,219 13,696 8,609

Amortization of debt issue costs (202) (209) (797) (820)

Non-cash income tax (expense) benefit (2,900) (4,814) (15,664) (17,585)

Gain (loss) on debt extinguishment (204) (246) (204) (246)

Amortization of syndication contracts (98) (86) (360) (440)

Payments on syndication contracts 133 137 510 578

Non-cash stock-based compensation included in direct operating

expenses (951) (799) (1,931) (1,294)

Non-cash stock-based compensation included in corporate expenses (1,605) (1,360) (3,309) (3,057)

Depreciation and amortization (4,039) (3,860) (15,989) (14,663)

Impairment charge - (735) - (735)

Net income $5,807 $5,942 $25,625 $27,122
====== ====== ======= =======


(1) Consolidated adjusted EBITDA, net interest expense, and free cash flow are defined on page 1.


(2) Capital expenditures is not part of the consolidated statement of operations.




SOURCE Entravision Communications Corporation

Entravision Communications Corporation

CONTACT: For more information, please contact: Christopher T. Young, Chief Financial Officer, Entravision Communications Corporation, 310-447-3870, or Mike Smargiassi/Brad Edwards, Brainerd Communicators, Inc., 212-986-6667

Web Site: http://www.entravision.com


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