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.

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