Uh-oh… looks like Entravision is feeling the burden of the economic crisis, like many other media companies. The company released financial results for this year’s 2nd quarter, showing a 3% drop in net revenue for its television station group to $38,944,000 from $40,287,000 in the second quarter of 2007.
Entravision CEO Walter Ulloa attributes the decrease to “an advertising market that remains weak due to general economic conditions.” The company also announced it has repurchased 2.3 million shares of Class A common stock for approximately $13.7 million in the 2nd quarter of ’08.