By Adam R Jacobson
RBR + TVBR
Entravision‘s multi-platform strategies seem to be paying off for the media company focused on Latino consumers.
As Chairman/CEO Walter Ulloa noted on Entravision’s Thursday afternoon Q4 and full-year 2016 conference call with financial analysts, net income soared 21%, while net revenue grew 7%. However, it was the company’s gross proceeds from the FCC’s broadcast spectrum incentive auction that may send tongues wagging.
Ulloa revealed that Entravision will receive $264 million in gross proceeds from the FCC’s reverse auction. “The anticipated proceeds reflect the FCC’s acceptance of one or more bids placed by the company during the auction to modify and/or relinquish spectrum usage rights” for some of its television stations, the company said in its earnings release.
Entravision expects to receive the first auction proceeds in the early part of Q3 2017, and the company noted that it — like all other companies relinquishing spectrum — does not expect it to result in material changes in its operations.
As the company discussed its fourth-quarter and FY16 results by segment, with growth seen across digital, television and radio, longtime COO Jeffery Liberman was presented with presidential stripes. At the same time, Entravision “made some Headway” by purchasing an Argentine provider of mobile, programmatic, data and performance providing services across the Americas.