Univision Announces 2008 Fourth Quarter and Full Year Results
Joe Uva, chief executive officer, said, "Our fourth quarter results reflect an operating environment that was among the most difficult we have seen across most industries. Nevertheless, we continued to meet our key near-term goals of maintaining ample liquidity to operate our business, successfully negotiating favorable retransmission agreements and aggressively managing costs. In the fourth quarter 2008, Univision was the only major broadcast network to grow its audience in primetime among Adults 18-49, while the major English-language networks, ABC, CBS, FOX, NBC, and CW, saw their own audiences decline; and Univision's Los Angeles television station beat all other stations in the country to rank as the #1 station among Adults 18-49 during primetime, total day, early local news and late local news for the entire year."
For the fourth quarter of 2008, the Company recorded pretax charges for goodwill and long-lived asset impairments of $1.6 billion, Televisa settlement and related charges of $598.7 million, an investment loss of $20.3 million and restructuring and related charges of $30.0 million.
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