You will be redirected back to your article in seconds

Univision Sees 10% Drop in First Quarter Profits

Spanish-language media giant Univision Communications announced a drop in first quarter earnings and revenue as the company grapples with restructuring and severance costs.

Total revenue was down 1.2% to $684.2 million from $692.6 million compared to the first quarter of the prior year. Profit was down 10.2% to $47.4 million versus $58.1 million in the same time frame in 2017.

“Even with a leading portfolio of Spanish-language linear assets, a growing digital portfolio and a strong and time-tested relationship with our audience, we recognize that accelerating changes at Univision now is as important as ever given the rapid evolution in the media sector,” said Univision president-CEO Randy Falco, who has announced his intention to resign by the end of the year despite having renewed his contract to Jan. 31, 2020 just six months ago.

Since then, Univision has cut jobs and given up on an IPO, citing unfavorable market conditions. An IPO would have helped the company to further draw down its debt of some $8 billion and allow its investors, led by mogul Haim Saban, to cash out. The company reduced its debt by $76.2 million this first quarter.

In an earnings call led by Falco and newly promoted CFO Peter Lori, Falco stressed “two key pillars to Univision’s accelerated transformation strategy”: Firstly, cost management, especially in areas not directly impacting Univision’s audience and secondly, operational support, encompassing content, platforms and selling capabilities.

Falco noted that Univision’s broadcast and cable networks remained No. 1 in Spanish-language TV in most measures with a solid lead over its nearest rival, NBCUniversal’s Telemundo.

For the first time, Televisa will also be complementing its scripted primetime programming lineup with three reality shows as part of its programming license agreement with Univision, effective this year. This includes kids competition show “Little Giants.” The show’s recent finale boosted Univision’s Sunday ratings average by 17%, year over year.

Univision expects its bottom line to be impacted by the 16% increase expenditures on its Televisa licensing agreement as well as the loss of World Cup soccer rights, which are moving to Telemundo for the first time.

Univision declined to comment on speculation that Televisa would eventually buy Univision given the FCC’s newly relaxed regulations regarding foreign media ownership.

More TV

  • One Dollar CBS All Access

    'One Dollar' Canceled by CBS All Access After One Season

    “One Dollar” has the ignominious distinction of being the first CBS All Access original series to be canceled. Variety has confirmed that the streaming service will not be bringing the drama series back for a second season. The series was set in a small rust belt town in post-recession America, where a one-dollar bill changing [...]

  • Giancarlo Esposito Werner Herzog Carl Weathers

    'The Mandalorian' Adds Giancarlo Esposito, Werner Herzog, Carl Weathers to Cast

    “The Mandalorian” cast has taken shape. The upcoming live-action “Star Wars” streaming series has revealed that the cast now includes Giancarlo Esposito, Emily Swallow, Carl Weathers, Omid Abtahi, and Werner Herzog. They join previously announced cast members Pedro Pascal, Nick Nolte, and Gina Carano. As with all things “Star Wars,” the exact nature of each actor’s [...]


    Chuck Lorre Gets Personal as Kudos Pile Up for 'The Kominsky Method'

    With three SAG Award noms adding to the momentum of kudos recognition for Netflix’s “The Kominsky Method,” the show has quickly become the most well-received series in Chuck Lorre’s long career in television. It’s also among the most personal. “I wanted to write about getting older and all that that entails,” Lorre told Variety. “I wanted to [...]

  • Shows we Quit in 2018 Westworld

    TV Shows We Quit in 2018

    With approximately 500 scripted series premiering new seasons in 2018, sometimes it feels like the television landscape is like a bubble. If it keeps getting inflated larger and larger, eventually something will have to give and it will pop, right? Well, maybe not for the platforms on which these shows are released — after all, [...]

  • Maniac

    Emma Stone, Darren Criss and More React to SAG Award Nominations

    The nominations for the 25th Annual Screen Actors Guild Awards were revealed on Wednesday morning, and “A Star Is Born” commanded the list with four noms alongside TV series “The Marvelous Mrs. Maisel” and “Ozark.” The awards recognize acting and ensemble performances across television and film, and this year, plenty of performers will be competing [...]

More From Our Brands

Access exclusive content