, on Thursday reported lower second-quarter earnings amid lower revenue and higher operating expenses.
Quarterly revenue declined 4 percent to $701.7 million, with core revenue down 3.5 percent to $694.5 million, including a 1.1 percent drop in media networks unit core advertising revenue. Total networks unit advertising revenue fell 2 percent to $347.2 million "due to declines in television advertising revenue, partially offset by higher digital advertising revenue." Media networks unit non-advertising revenue, including carriage fees and content licensing, declined 6.
Quarterly direct operating expenses rose 9 percent to $273.7 million. Expenses related to programming, excluding variable program license fees, increased 31 percent to $40.0 million in the second quarter, "primarily due to increases in sports programming costs of $45.8 million," driven by Gold Cup and UEFA soccer rights, and higher news programming costs, partially offset by a decrease in entertainment programming costs.
investments in programming and sales, which positioned us for growth," said Sadusky. "In the recently completed 2019/2020 upfront sales cycle Univision achieved the strongest growth in four years.", scrapped plans for an initial public offering and replaced its CFO. The firm then announced that private equity firm Great Hill Partners will buy Univision's digital media group Gizmodo Media Group and The Onion for an undisclosed sum.
Telemundo outsold
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