Univision‘s New CEO Promises a Return to the Company‘s "Core Business"

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Vincent Sadusky, CEO, Univision

by @todotvnews the 09/08/2018
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Vincent Sadusky, Univision's CEO, has revealed part of his strategy for the company's future during the presentation of the Hispanic giant's latest financial results. 

Named new CEO for Univision in May of this year, Vincent Sadusky held his first financial results presentation since he took over the Hispanic giant and took the opportunity to explain part of his strategy for the network's future.

And one of the things he mentioned was his intention to once again focus on the company's "core business", meaning entertaining and empowering Hispanic audiences.

"While our foundation is strong, Univision has gone through a significant amount of change over the last few months. We are starting an exciting new chapter with a singular focus on our core business and mission: to inform, entertain and empower Hispanic America," explained the executive.

"This is a company that I have long admired as one of the great franchises in U.S. media and for its important mission to serve the Hispanic community. Despite a rapidly evolving media landscape, the company has a lot to be optimistic about and an incredibly strong foundation to build from. We provide unparalleled access to a coveted and fast-growing consumer group with increasing buying power," he added.

His statement helps explain some of the recent steps he's taken since taking over the media giant like the plans to sell Gizmodo Media Group (GMG) and The Onion, a wave of layoffs and the dismissal of key executives.

And they also came hand in hand with the announcement that Univision will be the new home of the UEFA Champions League starting on august 21 with the broadcast of 137 live matches, which are all part of the largest club tournament in the world.

As for the financial results, the company reported profits of 114.3 million dollars for the second quarter of 2018, up from the numbers recorded during the same period last year, when it closed with 106.1 million dollars.

As the company explained, the increased profit was helped by a 3.6% decline in selling, general and administrative expenses.

Earnings, in turn, closed at 749.8 million dollars, down 2% from last year. Propelling this trend was the advertising revenue down 7.3% to US$434.0 million.

Non advertising revenue, including carriage fees and content licensing, rose 6.5% to $315.8 million dollars.

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