- Entravision Communications (NYSE:EVC) has jumped 12.6% in after-hours trading following Q4 earnings where profits were in line, though revenues rose in all segments and the company entered a deal to buy a marketing solutions firm.
- Entravision has a definitive deal to acquire Headway, a provider of "mobile, programmatic, data and performance digital marketing solutions" focused on the Western hemisphere, for cash on hand.
- EBITDA rose 10% to $20.6M, which missed an expected $21.6M. Free cash flow rose 10%, to $14.92M, and net income was up 21% to $7M.
- Revenue by segment: Television, $43.4M (up 9%); Radio, $20.2M (up 4%); Digital, $6.67M (up 6%).
- The company anticipates about $264M in proceeds for its participation in the FCC's reverse spectrum auction, which it expects to receive in the second half.
- Press Release