Univision Q2 Profit Drops

Aug 4, 2005  •  Post A Comment

Spanish-language broadcaster Univision Communications said Thursday its second-quarter profit tumbled 57 percent to $36.1 million, thanks to a noncash charge related to an investment whose value has declined.

Univision, which runs Spanish-language networks Univision, TeleFutura and Galavision, said the profit decline was the result of a $48.3 million charge tied to a decline in the fair value of the company’s investment in Spanish-language broadcaster Entravision Communications. Without the charge, the second-quarter profit would have risen 1 percent to $84.4 million.

Revenue advanced 3 percent to $508.5 million, largely thanks to increased ratings at the three networks.