HispanicBusiness

Univision Communications today released its Q3 results in a press release. Full text of that release and links to the financials follows.

NEW YORK -- Univision Communications Inc., the leading Spanish-language media company in the United States, today announced financial results for the third quarter and nine months ended September 30, 2008. For the 2008 third quarter, net revenue declined 2.4% to $511.3 million from $524.0 million in 2007 and adjusted operating income before depreciation and amortization1 decreased 2.7% to $213.7 million in 2008 from $219.7 million in 2007. Excluding incremental revenue from major soccer tournaments2 that aired in the third quarter of 2007 and 2008 and political advertising revenue in the third quarter of 2007 and 2008, third quarter net revenue increased 0.3% and OIBDA increased 0.1%. For the nine months ended September 30, 2008, net revenue decreased 0.8% to $1,503.2 million in 2008 from $1,514.9 million in 2007 and OIBDA decreased 4.6% to $584.8 million in 2008 from $613.1 million in 2007. Excluding incremental revenue from major soccer tournaments that aired in the nine months ended September 30, 2008 and 2007 and political advertising revenue in the nine months ended September 30, 2008 and 2007, net revenue for the nine months ended September 30, 2008 increased 1.5% and OIBDA decreased 1.8%.

Joe Uva, Chief Executive Officer, said, "Despite continuing pressure on the advertising market as a result of the current economic conditions, Univision's net revenue excluding incremental revenue from major soccer and political increased 0.3% in the third quarter, whereas the television industry decreased 9.4%3 and the radio industry decreased by 8.6%4. The Univision Network is currently boasting its best season start ever with Univision seeing year-to-year audience growth among all major demographics for the first several weeks of the new season. All of the other major networks, ABC, CBS, FOX, NBC and CW, have seen their own audiences dwindle. Going forward, Univision's unique ability to consistently out deliver our peers and connect with our audience will position us for continued growth."


1 Operating income before depreciation and amortization ("OIBDA") is presented on an adjusted basis consistent with the definition in the Company's bank credit agreement governing its Senior Secured Credit Facilities to exclude certain expenses. See pages 6 through 9 for a reconciliation of non-GAAP (Generally Accepted Accounting Principles) terms and adjusted measures to the most directly comparable GAAP financial measure.

2 Copa America, Copa Oro and CONCACAF Champions League

3 Excluding political advertising according to the Television Bureau of Advertising (TVB)

4 According to Miller Kaplan in the markets in which Univision operates

For the full financial tables released, please visit http://www.sec.gov/Archives/edgar/data/1017008/000119312508237302/dex991.htm