ENTRAVISION COMMUNICATIONS CORP (EVC): M&A transaction — Entravision completes sale of three digital businesses; net cash proceeds of $27.2M

ENTRAVISION COMMUNICATIONS CORP

Closed sale of Entravision Global Partners to IMS for net proceeds of $16.4M after adjustments.
$6.5M of proceeds paid to MediaDonuts founders per assignment agreement; $4.9M mandatory debt repayment made.
Also sold 51% of Adsmurai for €15M ($16.2M) and Jack of Digital for $0.1M; all three treated as discontinued operations.
Pro forma revenue for 2023 falls from $1.11B to $297M after removing these businesses.
Strategic shift to focus on core radio/digital assets; quarterly net loss after adjustments not provided.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ENTRAVISION COMMUNICATIONS CORP completed a disposition involving IMS Internet Media Services, Inc. for $16.4 million (closed 2024-06-28).

Action: disposition
Counterparty: IMS Internet Media Services, Inc.
Consideration: $16.4 million
Closing: 2024-06-28

Exact text from the filing

the Company, Entravision Digital Holdings, LLC ("Seller") and IMS. Cash proceeds from the transaction, net of working capital and other adjustments, received at the closing were $16.4 million. Immediately after the closing, an amount equal to $6.5 million of the proceeds was paid by the Company to the parties who sold MediaDonuts Pte. Ltd. to Seller on July 1, 2021

View on SEC.gov

Browse all m&a transactions →

ENTRAVISION COMMUNICATIONS CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-081768

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.