secwatch.observer — SEC 8-K summary
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Issuer:     ENTRAVISION COMMUNICATIONS CORP (EVC)
CIK:        0001109116
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0000950170-24-025934
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Meta to end ASP relationship with Entravision by July 1; $586M revenue at risk
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- Meta informed Entravision it will wind down its Authorized Sales Partner program globally, ending relationship by July 1, 2024.
- FY2023 Meta ASP revenue was $586.4M (53% of total $1,106.9M); associated EBITDA was $23.8M of $57.7M total.
- FY2023 net loss attributable to common stockholders of $15.4M ($0.18 per share) vs. income of $18.1M in 2022.
- Board declared quarterly cash dividend of $0.05 per share, payable March 29, 2024 to holders of record March 15.
- Company initiated review of operating strategy and cost structure; balance sheet has $118.9M cash and marketable securities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1109116/000095017024025934/0000950170-24-025934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1109116/000095017024025934/evc-20240304.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-025934

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