Spanish-language media giant Univision Communications, which late last year sold a majority stake to an investor group led by former Viacom CFO Wade Davis, reported higher fourth-quarter revenue despite the coronavirus pandemic as its media networks unit returned to advertising growth thanks to political spending.
The company posted a fourth-quarter loss from continuing operations of $39.1 million, compared with a year-ago profit of $93.9 million. Quarterly adjusted operating income before depreciation and amortization (OIBDA), another profitability metric, fell 1 percent to $228.6 million.
Fourth-quarter revenue rose 4 percent to $722.9 million, with Univision's media networks unit recording a 10 percent advertising increase to $373.5 million after an 11 percent drop in the third quarter. But media networks core advertising revenue, which adjusts for political and advocacy ads, including the 2020 election, fell 6 percent after an 18 percent drop in the third quarter.