Q3 revenues fell 5% to $61 million for Spanish radio and TV specialist Entravision and EBITDA was down 16% to $21.1 million. Television revenues declined 6% to $37.5 million and radio 3% to $23.5 million.
“Our third quarter financial results were impacted by the economic environment and related advertising slowdown across the majority of our markets. We have taken steps to reduce our costs and operate as efficiently as possible in an effort to maximize our cash flows, without sacrificing the quality of our content or marketing efforts. We have also maintained a strong balance sheet and ample financial flexibility. Our audience shares remain strong and we remain focused on further growing our presence in the nation’s fastest growing and most densely populated markets. We believe we are in a solid position to capitalize on our market leadership when the economy recovers,” said CEO Walter Ulloa.