TelevisaUnivision, created in a combination of Univision Communications with assets from Televisa in January, reported a second-quarter loss, including transaction expenses.
The company recorded a net loss of $7.5 million, including $31.1 million in restructuring and severance charges, $124.8 million in interest expense and $23.3 million in acquisition costs.
Adjusted operating income before depreciation and amortization fell 8% to $373.3 million, with expenses up 24% on a pro forma basis.
Revenue grew 11% to $1.1 billion.
Advertising revenue rose 11%, including a 10% gain to $447.7 million in the U.S.
“Double-digit revenue growth in the second quarter caps off a stellar first half of 2022,“ TelevisaUnivision CEO Wade Davis said. “The second quarter saw a historic quarter of ad sales growth in Mexico and a U.S. upfront that grew mid-teens to the highest volume we have had in seven years. In the U.S., I’m thrilled to see advertisers demonstrating their commitment to support and grow with U.S. Hispanic audiences.
“This growth allowed us to fund the launch of both ViX and ViX Plus in the first half of 2022 without any material decline in EBITDA,“ Davis said. “The fact that the growth of our core business can fund our investments in streaming highlights the power of our unique assets and the quality and focus of our execution.
“With our full streaming service launched, we are poised to supercharge the already impressive growth of our core business with the massive global Spanish-language streaming opportunity. We are just getting started on executing on our vision and I am excited about what’s ahead for TelevisaUnivision.” ■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.