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Wade Davis Entertainment Covid-19 pandemic record Wade Davis

Univision Networks Unit Ad Revenue Drops 40 Percent as Second Quarter Hits Pandemic Bottom

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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Spanish-language media giant Univision Communications, which earlier this year agreed to sell a majority stake to an investor group led by former Viacom CFO Wade Davis, reported lower second-quarter financials amid the novel coronavirus pandemic.

In its earnings update on Monday, the company, which previously said it was targeting $125 million in cost reductions, confirmed its forecast that advertising would materially weaken from the first quarter due to further postponements of live sports and lower demand from advertisers.

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