Q4 revenues were down 9% to $48.1 million for Entravision Communications, which was an improvement over the full year, which ended down 19%. Consolidated adjusted EBITDA, however, was up 8% for the quarter to $15 million, despite being down 25% for the year.
“During 2009, we were confronted with a significant advertising downturn, both in television and radio, primarily as a result of the global financial crisis and recession. Nevertheless, our audience shares remained strong in the nation’s most densely populated Hispanic markets. Although EBITDA declined for the full year 2009 compared to 2008, our focus on managing costs and maximizing cash flows were factors in increasing our EBITDA for the fourth quarter of 2009. Additionally, we anticipate that retransmission consent revenue will continue to be a growing source of revenue, along with advertising revenue from World Cup and political activity during 2010,” said CEO Walter Ulloa.
Of the $4.7 million overall decrease in Q4 revenues, $3.7 million came from the radio segment, which the company said was primarily attributable to a decrease in local and national advertising rates, which in turn was primarily due to the weak economy. Additionally, $1.0 million of the overall decrease came from the television segment and was primarily attributable to a decrease in local and national advertising rates, which in turn was primarily due to the weak economy. That TV decline was partially offset by an increase in retransmission consent revenue in the amount of $2.2 million.
Television revenues were down 3% to $32.4 million. Excluding both political and retrans, COO Philip Wilkerson said TV revenues were flat for Q4.
Radio revenues were down 19% to $15.7 million, but excluding political that would have been a 14% decline. Radio improved each month, Wilkerson said, with October down 27%, November 18% and December 10%.