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Univision Earnings Hurt By Televisa Termination

Univision Communications reported a loss because of a payment from ending sponsorship management and technical assistance agreements with Televisa.

The $180 million payment left Univision $139.8 million in the red, compared with $6 million in net income a year ago. Adjusted operating income before depreciation and amortization rose 9% to $251.4 million.

Revenue rose slightly to $624.7 million.

"We continued to make significant progress during the first quarter to extend our brand and content across platforms, leveraging our position as the leader in Hispanic media," Randy Falco, CEO of Univision, said in a statement. "We signed several distribution deals during the quarter - including agreements with Sling-TV, the National Basketball Association, Hulu and Suddenlink - all of which we expect will broaden our reach and build upon our multiplatform strategy. We're extremely pleased with these achievements and our current ratings performance and operating momentum - which we believe position us well for the year ahead and for the upfront season."