×
You will be redirected back to your article in seconds

Univision Sees Q2 Profit Rise, New CEO Outlines Investment Priorities

Univision Communications, which is in the midst of a major transition following the departure of CEO Randy Falco, reported Thursday a second-quarter profit of $114.3 million compared with a profit of $106.1 million in the year prior.

This was boosted in part by sales of some assets, lower employee costs, adjustments to share-based compensation as well as a reduced tax rate of 24% (compared to 37%) due to the federal tax reform legislation.

However, the U.S. Hispanic media giant’s second quarter revenue decreased 2% to $749.8 million from $764.9 million while its total core revenue dipped 3.1% to $730.3 million from $753.5 million. The company said advertising revenue was impacted by an “overall softness in ad spending.”

For the first time, Univision Communications Inc.’s new CEO Vincent Sadusky presided over the company’s earnings call, which was dominated by questions over the company’s ongoing carriage feud with Dish Network. Univision stations have been dark on Dish’s satellite TV platform since June 30.

“While our foundation is strong, Univision has gone through a significant amount of change over the last few months,” said Sadusky in his prepared remarks. “We are starting an exciting new chapter with a singular focus on our core business and mission: to inform, entertain and empower Hispanic America,” he added.

To that end, the company has made plans to sell its English- language websites Gizmodo Media Group and the Onion.

Noting that Univision has “under-invested” in its local stations, Sadusky said the new focus would be on them as well as its Spanish-language website and other digital offerings, including its app.

Univision has not been immune to pivotal changes in general audience viewing habits, which has led to a deep erosion of its primetime viewership. Per TV ratings firm Nielsen, Univision had 1.56 million primetime viewers in June 2018 compared to 3.39 million primetime viewers in 2011. Interest in telenovelas from its primetime programming supplier, Mexico’s Televisa, had also waned.

On Dish Network, Sadusky stood firm on the company’s rationale behind its carriage fee dispute with the satellite giant.

“Univision played a big role in the launch of [premium package] DishLATINO 20 years ago,” he pointed out, adding that Hispanics make up 20% of Dish’s overall subscriber base, driving the satellite giant’s Hispanic viewership. “We don’t think we’re being unreasonable,” he said.

After Dish and Univision failed to come to terms on a contract renewal, more than 60 Univision-owned stations and cable channels, including UniMás and Galavision, were pulled from Dish’s pay-TV platforms on June 30.

Dish has since indicated that this may be permanent and offered a $5 monthly credit to its DishLATINO and Sling Latino package subscribers starting in August.

More TV

  • Hulu Picks Up Anna Friel Drama

    Hulu Picks Up Anna Friel Drama ‘Butterfly’

    Hulu has snagged U.S. rights to “Butterfly,” the family drama about separated parents who disagree over how to deal with their youngest child, Max, who was born a boy but identifies as a girl. The series was commissioned by ITV in the U.K. “Marcella” star Anna Friel plays Max’s mother, Vicky, and Emmett J. Scanlon [...]

  • Rupert Murdoch

    BBC Orders Documentary Series on Rupert Murdoch’s Print Empire

    The BBC has ordered “A Tabloid Empire,” a three-part documentary series on Rupert Murdoch’s influence over the British press. The series will air on BBC Two in the U.K. and examine in detail Britain’s popular press between 1997 and 2012, a period that covers phone hacking and corruption but that also saw Murdoch’s and other [...]

  • Supergirl -- "Elseworlds, Part 3" --

    'Elseworlds, Part 3' Recap: 2019 ‘Arrowverse’ Crossover Theme Revealed

    SPOILER ALERT: Do not read if you have not yet watched “Elseworlds, Part 2,” the final part of the 2018 “Arrowverse” crossover, which aired Dec. 11. After John Deegan (Jeremy Davies) got another go at using the Book of Destiny to rewrite reality, the “Elseworlds” finale saw Barry (Grant Gustin) and Oliver (Stephan Amell) facing [...]

  • The Netflix logo is displayed at

    TV Roundup: Netflix Orders Ted Bundy Docu-Series

    In today’s TV roundup, Netflix has ordered a docu-series on serial killer Ted Bundy and “Love, Gilda” sets a premiere date on CNN FIRST LOOKS Variety has obtained an exclusive clip of “Into the Okavango,” the upcoming National Geographic film. Premiering Dec. 14 on Nat Geo, the film, six years in the making, follows a [...]

  • Amy Poehler Is Ready for a

    Amy Poehler Is Ready for a 'Parks and Rec' Reunion

    Is Amy Poehler just getting our hopes up? We hope not, because the funny lady tells Variety that she’s ready for a “Parks and Recreation” reunion. “I am technically available,” Poehler said on Monday at Smart Girls’ 10th anniversary celebration dinner. “I have like six of Leslie’s blazers in my closet, so anytime.” “Parks and Recreation” [...]

  • Liz Meriwether Lake Bell

    Lake Bell, Liz Meriwether Comedy 'Bless This Mess' Moves From Fox to ABC With Series Order

    “Bless This Mess,” the single-camera comedy co-created by Lake Bell and Elizabeth Meriwether, has been ordered to series at ABC, Variety has learned. The series had previously been in contention at Fox and is a co-production between 20th Century Fox Television and ABC Studios. Bell also stars in the series alongside Dax Shepard. In the series, a [...]

More From Our Brands

Access exclusive content