Biz Briefs

Mar 24, 2003  •  Post A Comment

Univision Communications reported last week that its consolidated fourth-quarter 2002 net revenue rose 22 percent to $284.2 million from $233.8 million a year earlier.
The company earned $36.4 million, or 14 cents a share, in the fourth quarter, compared with $10.9 million, or 5 cents a share, in the previous year, according to its report last Thursday.
Television Group revenue in the fourth quarter increased 20 percent to $264.5 million from $219.8 million, and earnings for the Television Group increased 20 percent to $110.5 million from $92.3 million in 2001.
Disney Sees War Affecting Earnings
Walt Disney Co. Chief Financial Officer Tom Staggs told the company’s annual meeting in Denver last week that war with Iraq will likely hurt Disney’s hopes of growing earnings by more than 25 percent in fiscal 2003.
Disney last year said it expected earnings to rise by 25 percent to 35 percent during the fiscal year, subject to international events. Mr. Staggs said Disney now expects “more moderate” growth for the year, but was not specific. He said the uncertainty in the travel business has taken a harsher toll on Disney’s Orlando, Fla., theme parks, which tend to be more dependent on international visitation, than on the Disneyland resort in Anaheim, Calif., which is showing improved visitation over last year.
Big Bonus for Clear Channel CEO
Clear Channel Communications Chairman and CEO L. Lowrey Mays received a bonus of about $1.98 million in 2002, compared with no bonus in 2001, according to a Securities and Exchange Commission filing last Thursday.
Bonuses for 2002 were based on the company’s achieving certain goals, including increased cash flow, Clear Channel said. Mr. Mays’ salary in 2002 was about $1 million, down from about $1.01 million in 2001. San Antonio, Texas-based Clear Channel owns radio and television stations, outdoor displays and entertainment venues.