In October 2020, Entravision Communications took a big step toward becoming a digital-first multimedia organization by acquiring a majority stake in a digital advertising company serving over 2,000 brands and agencies each month across the U.S. and Latin America.
Now, Entravision has acquired all of the outstanding shares in the company, making it a wholly owned unit.
Entravision now owns 100% of Cisneros Interactive. That’s because the Santa Monica, Calif.-based company with television and radio properties focused on the U.S. Hispanic consumer moved forward August 31 in acquiring the 49% of Cisneros it did not own.
“With this full acquisition, Entravision will further position the combined platforms and service portfolio to be one of the largest premier global digital advertising solutions companies,” the company said.
Over the past decade, through growth and acquisitions, Entravision’s digital marketing offerings have expanded significantly. Entravision’s Digital business is now the clear revenue driver, far exceeding Entravision’s television and radio profits, respectively.
With the full ownership of Cisneros Interactive, along with Entravision’s most recent acquisition of MediaDonuts, which added digital capabilities in 7 countries in Asia, digital now comprises 73% of consolidated revenue as of the most recently reported quarter ended June 30, 2021. Digital Segment revenue improved over 1,000% year-over-year to total $130.2 million for the second quarter 2021.
The digital business focuses on several key areas, including Top Tier global audience and media representations; programmatic technology; digital audio solutions advertising and branding; and mobile performance solutions. Cisneros Interactive maintains unique sales partnerships in 17 Latin American countries, including partnerships with Facebook, Spotify and LinkedIn. The company also offers digital audio solutions and services through representation of a vast audience reached through 350 publishers.
Entravision Chairman/CEO Walter Ulloa commented, “This joint venture has been a great addition to Entravision, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in Cisneros Interactive, and we plan to continue to invest in expanding our global footprint, management and digital service tools.”