Univision reported that its adjusted operating profits before depreciation and amortization rose 17.1 percent, to $276.5 million during the third quarter of 2012.
Run by former NBC Broadcasting chief Randy Falco, the company reported revenue increased 7.6% in the period, to $628.9 million. However, profitability measured as net income declined substantially: Third quarter net income declined from US $290 million during the same period in 2011 to just $10.6 million this year, citing a US $53.2 million impairment loss and steeper restructuring, severance and related charges among the causes.
On the upside, the privately held company ranked as the No. 3 network among adults 18-34 nationwide, out delivering ABC and CBS, and ranked No. 4 with the 18-49 demo. Univision continued its “extraordinarily high concentration of live viewership among adults 18-49 of 91%,” said Univision CEO Randy Falco said in a statement.
Univision-ABC 24-hour news channel
The Univision-ABC 24-hour news channel is set to launch July 1 although it is “more realistic to say third quarter of next year, as things like this can slip,” Andrew W. Hobson, SVP and CFO of Univision said during a conference call. Univision has put a $25 million cap on its capital contributions in the new Miami-based joint venture with $11 million already invested. The new partnership will serve marketers looking for multiple ways to reach the Hispanic community and “remove the language barrier that have kept many influencers and politicians from having access to our community,” Hobson said.