Univision Q3 up 4.4%
EmptyUnivision Communications' net revenue increased 4.4% in the third quarter to $529.1 million, from $506.6 million in the same period last year, the company said Wednesday. Without counting the $24.7 million it brought in last year from the 2006 FIFA World Cup, the increase stood at 9.8% year-over-year.
Univision Music Group's performance was excluded from those results in the latest earnings report. A consortium of private-equity groups completed its acquisition of Univision Communications this year and decided it would sell off its recording and publishing businesses, "to focus our portfolio of assets on advertising-driven businesses in our core markets," the report stated.
Because of that, "the music division results of operations, assets and liabilities are reported as a discontinued operation for all periods presented and are not included in the above results," the earnings report stated.
Sale of Univision Music Group is expected to be completed before year's end. Bidders, major labels among them, have been circling for months.
Television led Univision's net revenue gains, but the company reported its radio division net revenue grew 7% in the third quarter. The launch of Univision Online's new video portal increased video streams by 91% compared to this period a year ago, the company said.
Ayala Ben-Yehuda is a correspondent for Billboard.