Univision Posts 1st-Quarter Loss
Univision Communications, the largest U.S. Spanish-language television network, posted a first-quarter loss of $900,000 because of an expense from its 31% stake in Entravision Communications Corp.
A year earlier, the company reported net income of $6 million, or 3 cents a share. Sales rose 10% to $214.4 million from $194.9 million. Excluding costs for Entravision, Univision said it would have earned $7.6 million, or 3 cents a share.
Univision had $8.5 million in costs related to its investment in Entravision, the biggest owner of Univision-affiliated TV stations.
Univision shares fell 18 cents to $41.89 on the New York Stock Exchange.
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