EVC Entravision Communications Corp

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 04, 2024

 

 

ENTRAVISION COMMUNICATIONS CORPORATION

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-15997	95-4783236
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
2425 Olympic Boulevard Suite 6000 West
Santa Monica, California				90404
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 310 447-3870

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock		EVC		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 2.02 Results of Operations and Financial Condition.

On March 5, 2024, Entravision Communications Corporation (the “Company”) issued a press release announcing its results of operations for the three- and twelve-month periods ended December 31, 2023. A copy of that press release is furnished herewith as Exhibit 99.1.

 

The information provided pursuant to Item 2.02 in this Current Report on Form 8-K, including the exhibit thereto, is being furnished under Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference into any future registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events.

On March 4, 2024, the Company received a communication from Meta Platforms, Inc. ("Meta") that it intends to wind down its authorized sales partner ("ASP") program globally and end its relationship with all of its ASPs, including the Company, by July 1, 2024. For full year 2023, Meta's ASP program represented $586.4 million of the Company’s $1,106.9 million of total consolidated revenue. The Company has initiated a review of its operating strategy and cost structure and will provide an update on associated plans as soon as practicable.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1	Press release issued by Entravision Communications Corporation on March 5, 2024 announcing its results of operations for the three- and twelve-month periods ended December 31, 2023.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			ENTRAVISION COMMUNICATIONS CORPORATION
Date:	March 5, 2024	By:	/s/ Michael J. Christenson
			Michael J. Christenson Chief Executive Officer

 

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Exhibit 99.1

 

 

ENTRAVISION COMMUNICATIONS CORPORATION REPORTS

FOURTH QUARTER AND FULL YEAR 2023 RESULTS

Provides Update on Digital Commercial Partnership with Meta Platforms

Declares Quarterly Cash Dividend of $0.05 Per Share Payable on March 29, 2024

Company to Cancel Today’s Conference Call

SANTA MONICA, CALIFORNIA, March 5, 2024 – Entravision Communications Corporation (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced financial results for the three- and twelve-month periods ended December 31, 2023, and provided an update on its digital commercial partnership with Meta Platforms. Entravision is canceling the conference call scheduled for 5 p.m. Eastern Time today.

Digital Commercial Partnerships Business Update

Through Entravision Global Partners, our digital commercial partnerships business, the Company acts as an intermediary between primarily global media companies and advertisers. These global media companies include Meta, for whom the Company acts as an Authorized Sales Partner (ASP), ByteDance, X Corp., Spotify, Snap and Pinterest, as well as other media companies, in 31 countries throughout the world.

On March 4, 2024, the Company received a communication from Meta that it intends to wind down its ASP program globally and end its relationship with all of its ASPs, including Entravision, by July 1, 2024. For full year 2023, the Company estimates Meta's ASP program represented approximately $23.8 million of the Company’s $57.7 million total consolidated EBITDA and $586.4 million of the Company’s $1,106.9 million of total consolidated revenue. Entravision has initiated a review of its operating strategy and cost structure and will provide an update on associated plans as soon as practicable.

As of December 31, 2023, Entravision reported $118.9 million of cash and marketable securities. The Company is in compliance with all debt covenants under its current credit facility and, except for quarterly principal scheduled payments, has no maturities under that facility until March 17, 2028.

"While we are disappointed in Meta’s decision, we are confident in Entravision’s long-term opportunities given the strength of our advertising and marketing platforms and the need for our solutions globally. We are conducting an extensive review of our strategy and cost structure to reinforce our operating foundation and ensure we are best positioned to capitalize on Entravision’s global, market leading advertising, media and technology solutions. Our balance sheet is solid with a strong cash position to support the business as we navigate these changes,” said Michael Christenson, Chief Executive Officer.

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Unaudited Financial Highlights (In thousands, except share and per share data)

		Three Months Ended												Twelve Months Ended
		December 31,												December 31,
		2023				2022				% Change				2023				2022				% Change
Net revenue		$	320,063			$	296,328				8	%		$	1,106,867			$	956,209				16	%
Cost of revenue - digital (1)			237,520				191,965				24	%			800,401				623,916				28	%
Operating expenses (2)			57,380				57,249				0	%			220,449				197,776				11	%
Corporate expenses (3)			14,458				22,635				(36	)%			50,294				49,404				2	%
Foreign currency (gain) loss			611				860				(29	)%			900				2,972				(70	)%
Consolidated EBITDA (4)			16,246				36,524				(56	)%			57,666				103,090				(44	)%
Free cash flow (5)		$	(2,076	)		$	19,299			*				$	7,394			$	63,325				(88	)%
Net income (loss)		$	(18,051	)		$	725			*				$	(15,621	)		$	20,169			*
Net (income) loss attributable to redeemable noncontrolling interest		$	(157	)		$	-			*				$	(158	)		$	-			*
Net (income) loss attributable to noncontrolling interest		$	-			$	(2,353	)			(100	)%		$	342			$	(2,050	)		*
Net income (loss) attributable to common stockholders		$	(18,208	)		$	(1,628	)			1018	%		$	(15,437	)		$	18,119			*
Net income (loss) per share attributable to common stockholders, basic and diluted		$	(0.21	)		$	(0.02	)			950	%		$	(0.18	)		$	0.21			*
Weighted average common shares outstanding, basic			88,193,240				85,158,189								87,901,938				85,391,163
Weighted average common shares outstanding, diluted			88,193,240				85,158,189								87,901,938				87,769,762

Net revenue for the fourth quarter and full year of 2023 increased primarily due to an increase in advertising revenue from our digital commercial partners business, and from various acquisitions, which did not fully contribute to our financial results in the comparable prior period. The increase was partially offset by a decrease in political advertising revenue in our television and audio segments.

Cost of revenue for the fourth quarter and full year of 2023 increased primarily due to the increase in digital advertising revenue.

Operating expenses for the fourth quarter of 2023 remained constant.

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Operating expenses for the year ended December 31, 2023 increased primarily due to expenses associated with the increase in advertising revenue, increases in salary expense and non-cash stock-based compensation, rent expense, and expenses from various acquisitions, which did not fully contribute to our financial results in the comparable prior period.

Corporate expenses for the fourth quarter of 2023 decreased primarily due to non-recurring severance expense incurred in the fourth quarter of 2022 upon the passing of our former Chief Executive Officer, and due to a decrease in bonus expense.

Corporate expenses for the year ended December 31, 2023 increased primarily due to professional service fees, audit fees and rent expense, partially offset by a decrease in severance expense incurred in 2022 upon the passing of our former Chief Executive Officer, and due to a decrease in bonus expense.

Quarterly Cash Dividend

The Company announced today that its Board of Directors approved a quarterly cash dividend to shareholders of $0.05 per share on the Company's Class A and Class U common stock, in an aggregate amount of $4.4 million. The quarterly dividend will be payable on March 29, 2024 to shareholders of record as of the close of business on March 15, 2024, and the common stock will trade ex-dividend on March 14, 2024. The Company currently anticipates that future cash dividends will be paid on a quarterly basis; however, any decision to pay future cash dividends will be subject to approval by the Board.

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure is included beginning on page 8.

Balance Sheet and Related Metrics

Cash and marketable securities as of December 31, 2023 totaled $118.9 million. Total debt as defined in the Company’s credit agreement was $210.6 million. Net of $50 million of cash and marketable securities, total leverage as defined in the Company’s credit agreement was 2.8 times as of December 31, 2023. Net of total cash and marketable securities, total leverage was 1.6 times.

Unaudited Segment Results (In thousands)

		Three Months Ended												Twelve Months Ended
		December 31,												December 31,
			2023				2022			% Change					2023				2022			% Change
Net Revenue
Digital		$	274,865			$	230,137				19	%		$	932,730			$	747,103				25	%
Television			31,130				45,812				(32	)%			120,937				144,730				(16	)%
Audio			14,068				20,379				(31	)%			53,200				64,376				(17	)%
Total		$	320,063			$	296,328				8	%		$	1,106,867			$	956,209				16	%
Cost of Revenue - Digital (1)		$	237,520			$	191,965				24	%		$	800,401			$	623,916				28	%
Operating Expenses (1)
Digital		$	26,012			$	22,553				15	%		$	95,767			$	74,130				29	%
Television			21,023				22,989				(9	)%			80,882				81,958				(1	)%
Audio			10,345				11,707				(12	)%			43,800				41,688				5	%
Total		$	57,380			$	57,249				0	%		$	220,449			$	197,776				11	%
Corporate Expenses (1)		$	14,458			$	22,635				(36	)%		$	50,294			$	49,404				2	%
Foreign currency (gain) loss		$	611			$	860				(29	)%		$	900			$	2,972				(70	)%
Consolidated EBITDA (1)		$	16,246			$	36,524				(56	)%		$	57,666			$	103,090				(44	)%

(1) Cost of revenue, operating expenses, corporate expenses, and consolidated EBITDA are defined on page 2.

 

 

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About Entravision Communications Corporation

Entravision is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia and Africa. Our digital segment, the company’s largest by revenue, offers a full suite of end-to-end advertising services. We have commercial partnerships with Meta, X Corp. (formerly known as Twitter), TikTok, and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.

 

For more information, please contact:

Christopher T. Young		Kimberly Orlando
Chief Financial Officer and Treasurer		ADDO Investor Relations
Entravision Communications Corporation		310-829-5400
310-447-3870		evc@addo.com
cyoung@entravision.com

 

# # #

(Financial Table Follows)

 

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Entravision Communications Corporation

Consolidated Statements of Operations

(In thousands, except share and per share data)

(Unaudited)

		Three-Month Period								Twelve-Month Period
		Ended December 31,								Ended December 31,
		2023				2022				2023				2022
Net revenue		$	320,063			$	296,328			$	1,106,867			$	956,209
Expenses:
Cost of revenue - digital			237,520				191,965				800,401				623,916
Direct operating expenses			33,688				35,106				128,470				122,611
Selling, general and administrative expenses			23,692				22,143				91,979				75,165
Corporate expenses			14,458				22,635				50,294				49,404
Depreciation and amortization			7,671				6,485				28,007				25,697
Change in fair value of contingent consideration			6,400				7,400				(2,539	)			14,210
Impairment charge			12,278				1,600				13,267				1,600
Foreign currency (gain) loss			611				860				900				2,972
Other operating (gain) loss			609				1,393				609				382
			336,927				289,587				1,111,388				915,957
Operating income (loss)			(16,864	)			6,741				(4,521	)			40,252
Interest expense			(4,503	)			(3,651	)			(17,291	)			(10,876	)
Interest income			1,600				948				5,055				2,864
Dividend income			3				—				35				20
Realized gain (loss) on marketable securities			1				(59	)			(93	)			(532	)
Gain (loss) on debt extinguishment			—				—				(1,556	)			—
Income before income taxes			(19,763	)			3,979				(18,371	)			31,728
Income tax (expense) benefit			1,712				(3,254	)			2,750				(11,559	)
Net income (loss)			(18,051	)			725				(15,621	)			20,169
Net (income) loss attributable to redeemable noncontrolling interest			(157	)			—				(158	)			—
Net (income) loss attributable to noncontrolling interest			—				(2,353	)			342				(2,050	)
Net income (loss) attributable to common stockholders		$	(18,208	)		$	(1,628	)		$	(15,437	)		$	18,119
Basic and diluted earnings (loss) per share:
Net income (loss) per share attributable to common stockholders, basic and diluted		$	(0.21	)		$	(0.02	)		$	(0.18	)		$	0.21
Cash dividends declared per common share, basic and diluted		$	0.05			$	0.03			$	0.20			$	0.10
Weighted average common shares outstanding, basic			88,193,240				85,158,189				87,901,938				85,391,163
Weighted average common shares outstanding, diluted			88,193,240				85,158,189				87,901,938				87,769,762

 

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Entravision Communications Corporation

Consolidated Balance Sheets

(In thousands; unaudited)

		December 31,				December 31,
		2023				2022
ASSETS
Current assets
Cash and cash equivalents		$	105,739			$	110,691
Marketable securities			13,172				44,528
Restricted Cash			770				753
Trade receivables, net of allowance for doubtful accounts			235,837				224,713
Assets held for sale			301				—
Prepaid expenses and other current assets			30,036				27,238
Total current assets			385,855				407,923
Property and equipment, net			71,475				61,362
Intangible assets subject to amortization, net			51,784				61,811
Intangible assets not subject to amortization			195,174				207,453
Goodwill			90,672				86,991
Deferred income taxes			4,991				2,591
Operating leases right of use asset			43,941				44,413
Other assets			22,054				8,297
Total assets		$	865,946			$	880,841
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Current maturities of long-term debt		$	9,969			$	5,256
Accounts payable and accrued expenses			254,802				237,415
Operating lease liabilities			7,282				5,570
Total current liabilities			272,053				248,241
Long-term debt, less current maturities, net of unamortized debt issuance costs			199,552				207,292
Long-term operating lease liabilities			45,665				42,151
Other long-term liabilities			23,009				30,198
Deferred income taxes			59,381				67,590
Total liabilities			599,660				595,472
Redeemable noncontrolling interest			43,758				—
Stockholders' equity
Class A common stock			8				8
Class B common stock			—				—
Class U common stock			1				1
Additional paid-in capital			743,246				776,298
Accumulated deficit			(519,812	)			(504,375	)
Accumulated other comprehensive income (loss)			(915	)			(1,510	)
Total stockholders' equity			222,528				270,422
Noncontrolling interest			-				14,947
Total equity			222,528				285,369
Total liabilities, redeemable noncontrolling interest and equity		$	865,946			$	880,841

 

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Entravision Communications Corporation

Consolidated Statements of Cash Flows

(In thousands; unaudited)

		Three-Month Period								Twelve-Month Period
		Ended December 31,								Ended December 31,
		2023				2022				2023				2022
Cash flows from operating activities:
Net income (loss)		$	(18,051	)		$	725			$	(15,621	)		$	20,169
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			7,671				6,485				28,007				25,697
Impairment charge			12,278				1,600				13,267				1,600
Deferred income taxes			(10,796	)			(557	)			(10,965	)			(3,708	)
Non-cash interest			91				238				355				1,314
Amortization of syndication contracts			113				120				471				468
Payments on syndication contracts			(114	)			(166	)			(480	)			(470	)
Non-cash stock-based compensation			6,645				12,039				23,698				20,034
(Gain) loss on marketable securities			(1	)			59				93				532
(Gain) loss on disposal of assets/business			748				(37	)			737				(636	)
(Gain) loss on debt extinguishment			—				—				1,556				—
Change in fair value of contingent consideration			6,400				7,400				(2,539	)			14,210
Changes in assets and liabilities, net of businesses acquired and disposed of:
(Increase) decrease in trade receivables, net			(25,508	)			(31,983	)			(9,247	)			(9,687	)
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets			15,025				2,200				7,826				2,017
Increase (decrease) in accounts payable, accrued expenses and other liabilities			11,578				2,652				38,038				7,377
Net cash provided by operating activities			6,079				775				75,196				78,917
Cash flows from investing activities:
Proceeds from sale of assets/business			175				37				258				2,708
Purchases of property and equipment			(7,446	)			(3,586	)			(27,327	)			(11,468	)
Purchase of businesses, net of cash acquired			—				—				(6,930	)			—
Investment in variable interest entities, net of cash consolidated			—				—				—				(5,164	)
Purchases of marketable securities			—				(13,902	)			(11,355	)			(106,382	)
Proceeds from sale of marketable securities			5,242				12,946				43,335				59,814
Purchases of investments			—				—				(300	)			—
Issuance of loan receivable			—				—				(13,636	)			—
Net cash provided by (used in) investing activities			(2,029	)			(4,505	)			(15,955	)			(60,492	)
Cash flows from financing activities:
Proceeds from stock option exercises			—				1				554				219
Tax payments related to shares withheld for share-based compensation plans			(3,899	)			(4,257	)			(4,057	)			(4,524	)
Payments on debt			(1,250	)			(751	)			(215,745	)			(3,252	)
Dividends paid			(4,406	)			(2,124	)			(17,588	)			(8,539	)
Distributions to noncontrolling interest			—				—				(3,380	)			—
Repurchase of Class A common stock			—				—				—				(11,280	)
Payment of contingent consideration			—				—				(35,113	)			(65,340	)
Principal payments under finance lease obligation			(39	)			(33	)			(152	)			(105	)
Proceeds from borrowings on debt			667				—				213,087				—
Payments for debt issuance costs			—				—				(1,777	)			—
Net cash used in financing activities			(8,927	)			(7,164	)			(64,171	)			(92,821	)
Effect of exchange rates on cash, cash equivalents and restricted cash			(3	)			(2	)			(5	)			(3	)
Net increase (decrease) in cash, cash equivalents and restricted cash			(4,880	)			(10,896	)			(4,935	)			(74,399	)
Cash, cash equivalents and restricted cash:
Beginning			111,389				122,340				111,444				185,843
Ending		$	106,509			$	111,444			$	106,509			$	111,444

 

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Entravision Communications Corporation

Reconciliation of Consolidated EBITDA to Cash Flows From Operating Activities

(In thousands; unaudited)

The most directly comparable GAAP financial measure is operating cash flow. A reconciliation of this non-GAAP measure to cash flows from operating activities for each of the periods presented is as follows:

		Three-Month Period								Twelve-Month Period
		Ended December 31,								Ended December 31,
			2023				2022				2023				2022
Consolidated EBITDA (1)		$	16,246			$	36,524			$	57,666			$	103,090
EBITDA attributable to redeemable noncontrolling interest			779				—				1,515				—
EBITDA attributable to noncontrolling interest			—				3,404				230				3,399
Interest expense			(4,503	)			(3,651	)			(17,291	)			(10,876	)
Interest income			1,600				948				5,055				2,864
Income tax (expense) benefit			1,712				(3,254	)			2,750				(11,559	)
Amortization of syndication contracts			(113	)			(120	)			(471	)			(468	)
Payments on syndication contracts			114				166				480				470
Non-cash stock-based compensation included in direct operating
expenses			(2,264	)			(2,816	)			(9,482	)			(5,694	)
Non-cash stock-based compensation included in corporate expenses			(4,381	)			(9,223	)			(14,216	)			(14,340	)
Depreciation and amortization			(7,671	)			(6,485	)			(28,007	)			(25,697	)
Change in fair value of contingent consideration			(6,400	)			(7,400	)			2,539				(14,210	)
Non-recurring severance charge			(287	)			(4,316	)			(899	)			(4,316	)
Dividend income			3				—				35				20
Realized gain (loss) on marketable securities			1				(59	)			(93	)			(532	)
Other operating gain (loss)			(609	)			(1,393	)			(609	)			(382	)
Impairment charge			(12,278	)			(1,600	)			(13,267	)			(1,600	)
Gain (loss) on debt extinguishment			—				—				(1,556	)			—
Net (income) loss attributable to redeemable noncontrolling interest			(157	)			—				(158	)			—
Net (income) loss attributable to noncontrolling interest			—				(2,353	)			342				(2,050	)
Net income (loss) attributable to common stockholders			(18,208	)			(1,628	)			(15,437	)			18,119
Depreciation and amortization			7,671				6,485				28,007				25,697
Impairment charge			12,278				1,600				13,267				1,600
Deferred income taxes			(10,796	)			(557	)			(10,965	)			(3,708	)
Amortization of debt issuance costs			91				238				355				1,314
Amortization of syndication contracts			113				120				471				468
Payments on syndication contracts			(114	)			(166	)			(480	)			(470	)
Non-cash stock-based compensation			6,645				12,039				23,698				20,034
Realized (gain) loss on marketable securities			(1	)			59				93				532
(Gain) loss on disposal of assets/business			748				(37	)			737				(636	)
Change in fair value of contingent consideration			6,400				7,400				(2,539	)			14,210
(Gain) loss on debt extinguishment			—				—				1,556				—
Net (income) loss attributable to redeemable noncontrolling interest			157				—				158				—
Net income (loss) attributable to noncontrolling interest			—				2,353				(342	)			2,050
Changes in assets and liabilities:
(Increase) decrease in accounts receivable			(25,508	)			(31,983	)			(9,247	)			(9,687	)
(Increase) decrease in prepaid expenses and other assets			15,025				2,200				7,826				2,017
Increase (decrease) in accounts payable, accrued expenses and other liabilities			11,578				2,652				38,038				7,377
Net cash provided by (used in ) operating activities		$	6,079			$	775			$	75,196			$	78,917

(1) Consolidated EBITDA is defined on page 2.

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Entravision Communications Corporation

Reconciliation of Free Cash Flow to Cash Flows From Operating Activities

(In thousands; unaudited)

The most directly comparable GAAP financial measure is operating cash flow. A reconciliation of this non-GAAP measure to cash flows from operating activities for each of the periods presented is as follows:

		Three-Month Period								Twelve-Month Period
		Ended December 31,								Ended December 31,
			2023				2022				2023				2022
Consolidated EBITDA (1)		$	16,246			$	36,524			$	57,666			$	103,090
Net, cash interest expense (1)			(2,812	)			(2,465	)			(11,881	)			(6,698	)
Dividend income			3				—				35				20
Cash paid for income taxes			(7,171	)			(5,465	)			(13,100	)			(16,921	)
Capital expenditures (2)			(7,446	)			(3,586	)			(27,327	)			(11,468	)
Landlord incentive reimbursement			—				—				3,509				—
Other operating gain (loss)			(609	)			(1,393	)			(609	)			(382	)
Non-recurring cash severance charge			(287	)			(4,316	)			(899	)			(4,316	)
Free cash flow (1)			(2,076	)			19,299				7,394				63,325
Capital expenditures (2)			7,446				3,586				27,327				11,468
Landlord incentive reimbursement			—				—				(3,509	)			—
EBITDA attributable to redeemable noncontrolling interest			779				—				1,515				—
EBITDA attributable to noncontrolling interest			—				3,404				230				3,399
(Gain) loss on disposal of assets/business			748				(37	)			737				(636	)
Cash paid for income taxes			7,171				5,465				13,100				16,921
Deferred income taxes			(10,796	)			(557	)			(10,965	)			(3,708	)
Income tax (expense) benefit			1,712				(3,254	)			2,750				(11,559	)
Changes in assets and liabilities:
(Increase) decrease in accounts receivable			(25,508	)			(31,983	)			(9,247	)			(9,687	)
(Increase) decrease in prepaid expenses and other assets			15,025				2,200				7,826				2,017
Increase (decrease) in accounts payable, accrued expenses and other liabilities			11,578				2,652				38,038				7,377
Cash Flows From Operating Activities		$	6,079			$	775			$	75,196			$	78,917

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v3.24.0.1

Document And Entity Information	Mar. 04, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Mar. 04, 2024
Entity Registrant Name	ENTRAVISION COMMUNICATIONS CORP
Entity Central Index Key	0001109116
Entity Emerging Growth Company	false
Entity File Number	001-15997
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4783236
Entity Address, Address Line One	2425 Olympic Boulevard
Entity Address, Address Line Two	Suite 6000 West
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404
City Area Code	310
Local Phone Number	447-3870
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A Common Stock
Trading Symbol	EVC
Security Exchange Name	NYSE

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