In a deal worth $100 million, Entravision Communications Corporation has sold its 10,600 outdoor advertising faces to Lamar Advertising Company.
Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision, said that the move was made to generate capital that the company can invest into its TV and Radio operations. The company is also considering making some strategic acquisitions.
Entravision is the largest affiliate group of both Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 48 owned and/or operated radio stations.
Related Article: Hispanic Outdoor Advertising: Low CPMs and Tens of Thousands of Impressions (Nov. 2007)