secwatch.observer — SEC 8-K summary
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Issuer:     ENTRAVISION COMMUNICATIONS CORP (EVC)
CIK:        0001109116
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0000950170-24-081768
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Entravision completes sale of three digital businesses; net cash proceeds of $27.2M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1109116/000095017024081768/0000950170-24-081768-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1109116/000095017024081768/evc-20240628.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-081768

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