Univision announced that its profits fell in the second quarter. Net income
was $31.8 million, down 62% from $82.6 million a year ago.
Net revenue was $613 million, up 3.8%.
"In the second quarter of 2012, we worked to bolster our
position on the cutting edge of Hispanic media and augmented our digital
presence with the launch of our digital network, UVideos," CEO Randy Falco CEO
said in a statement. "We continue to develop our three new networks, and are
forging ahead with our groundbreaking partnership with ABC News. When you
consider these initiatives on top of our networks' strong ratings and the
retransmission consent agreements we have already reached with four of our nine
major distributors, we believe Univision is on the right track to deliver
strong results and continued growth in audience engagement in 2012."
Univision, the leading Spanish-language media company, is
facing increased competition from Comcast's Telemundo Media and from News Corp.'s
new MundoFox TV network.
"Our mission and strategy continue to be validated by the
proliferation of Hispanic-focused media outlets in this country, but we remain
far ahead of the pack," Falco said. "Early results of the upfront indicate that
many marketers are following the example set by Tapestry and Starcom earlier
this year and shifting larger portions of their budgets to Univision and away
from both English- and Spanish-language competitors. To new and existing
clients looking to tap into the upside potential of the growing Hispanic
community, we believe we are the obvious partner."
Revenues at Univision's TV business rose to $508.1 million
from $485.3 million.
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