-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BO2vTL+XMVbh1hAS9dUg+AYVVAKv5lbtcf5pjplXr8h9RHcBdRzCyUpggDbHLNiN AaA4uiF+jvXQrNaQJRXn8w== 0001193125-08-045335.txt : 20080304 0001193125-08-045335.hdr.sgml : 20080304 20080303182647 ACCESSION NUMBER: 0001193125-08-045335 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20080228 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080304 DATE AS OF CHANGE: 20080303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTRAVISION COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001109116 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] IRS NUMBER: 954783236 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15997 FILM NUMBER: 08661183 BUSINESS ADDRESS: STREET 1: 2425 OLYMPIC BLVD STREET 2: STE 6000 WEST CITY: SANTA MONICA STATE: CA ZIP: 90404 BUSINESS PHONE: 3104473870 MAIL ADDRESS: STREET 1: 2425 OLYMPIC BLVD STREET 2: STE 6000 WEST CITY: SANTA MONICA STATE: CA ZIP: 90404 8-K 1 d8k.htm FORM 8-K Form 8-K
 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

 

Current Report

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 28, 2008

 

 

 

 

ENTRAVISION COMMUNICATIONS CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

 

 

Delaware   1-15997   95-4783236

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

2425 Olympic Boulevard, Suite 6000 West, Santa Monica, California 90404

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (310) 447-3870

Not Applicable

(Former name or former address, if changed since last report.)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


Item 1.01. Entry into a Material Definitive Agreement

On February 28, 2008, Entravision Communications Corporation (the “Company”) entered into a Stock Purchase Agreement (the “Agreement”) with Lamar Advertising Company (“Lamar”) regarding the sale of the Company’s outdoor advertising operations to Lamar for a total consideration of $100 million in cash (the “Purchase Price”). The closing of the transaction is subject to various conditions, including the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other closing conditions customary for transactions of this nature. The Agreement also contains representations and warranties, as well as indemnification provisions, customary for transactions of this nature. On February 28, 2008, the Company issued a press release announcing that it entered into the Agreement, a copy of which is attached to this report as Exhibit 99.1.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 28, 2008, the Company announced the resignation of John F. DeLorenzo as Executive Vice President, Chief Financial Officer and Treasurer of the Company. Mr. DeLorenzo will continue to serve as the Company’s Executive Vice President, Chief Financial Officer and Treasurer until approximately April 15, 2008, and the Company has appointed Christopher T. Young to serve as the Executive Vice President, Chief Financial Officer and Treasurer of the Company as of such date. On February 28, 2008, the Company issued a press release announcing these events, a copy of which is attached to this report as Exhibit 99.2.

Mr. Young is currently the President of the Company’s Outdoor division, a position he has held since 2004. Previously, Mr. Young had been the Outdoor division’s Chief Financial Officer, a role he had held since 2000. Before joining the Company, Mr. Young had been with the Bank of Montreal, where he was responsible for all of the bank’s corporate finance activity for the broadcasting and outdoor advertising industries. Mr. Young’s prior experience includes tenures at both the Bank of Tokyo in its corporate finance group and Chase Manhattan Bank. Mr. Young is 39 years old.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

99.1

   Press release issued by Entravision Communications Corporation on February 28, 2008.

99.2

   Press release issued by Entravision Communications Corporation on February 28, 2008.

 

- 2 -


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ENTRAVISION COMMUNICATIONS CORPORATION

Date: March 3, 2008

  By:  

/s/ Walter F. Ulloa

    Walter F. Ulloa
    Chairman and Chief Executive Officer

 

- 3 -


EXHIBIT INDEX

 

Exhibit

Number

 

Description of Exhibit

99.1   Press release issued by Entravision Communications Corporation on February 28, 2008.
99.2   Press release issued by Entravision Communications Corporation on February 28, 2008.

 

- 4 -

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

EXHIBIT 99.1

LOGO

ENTRAVISION COMMUNICATIONS CORPORATION ENTERS INTO DEFINITIVE

AGREEMENT WITH LAMAR ADVERTISING COMPANY FOR SALE OF OUTDOOR

ADVERTISING OPERATIONS

SANTA MONICA, CALIFORNIA February 28, 2008 – Entravision Communications Corporation (NYSE: EVC) today announced that the Company has entered into a definitive agreement with Lamar Advertising Company for the sale of its outdoor advertising operations for a total consideration of $100 million in cash. Entravision’s outdoor advertising operations operate under the name Vista Media and primarily consist of approximately 10,600 advertising faces in New York and Los Angeles, the two largest advertising markets in the United States. The transaction is subject to customary closing requirements.

Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “The sale of our outdoor operations reflects our commitment to unlock value for our shareholders and our focus on operating Spanish-language television and radio stations in the nation’s fastest-growing and most densely populated U.S. Hispanic markets. The proceeds will strengthen our ability to invest in our core television and radio businesses, and will improve our financial flexibility as we review all options for putting our cash to work, including strategic acquisitions and potentially returning capital to shareholders.”

Citigroup and Moelis & Company acted as financial advisors to Entravision on the sale of its outdoor advertising operations.

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and outdoor operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and/or operated radio stations. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.

# # #

For more information, please contact:

Mike Smargiassi/Joe Lobello

Brainerd Communicators, Inc.

212-986-6667

EX-99.2 3 dex992.htm PRESS RELEASE Press Release

EXHIBIT 99.2

ENTRAVISION COMMUNICATIONS CORPORATION APPOINTS

CHRISTOPHER T. YOUNG AS EXECUTIVE VICE PRESIDENT AND CHIEF

FINANCIAL OFFICER

Santa Monica, California, February 28, 2008 – Entravision Communications Corporation (NYSE: EVC) announced today the appointment of Christopher T. Young as Executive Vice President and Chief Financial Officer, effective approximately April 15, 2008. Mr. Young will replace John DeLorenzo, who is returning to the East Coast to pursue other interests and who will remain with the company until that date.

Walter Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “Chris has been a key contributor to our organization during the past eight years and we are pleased he will now lead our financial department. Chris is a seasoned executive who served as our Outdoor division’s CFO prior to becoming President of the unit. With the sale of Outdoor, this will be a smooth transition as Chris knows our business very well and has worked closely with John DeLorenzo since 2002. We look forward to benefiting from Chris’ proven expertise as we continue to focus on strengthening our presence in the nation’s fastest growing Hispanic markets.”

Mr. Young commented, “I am thrilled to expand my role with Entravision during this exciting period in the company’s history. Entravision has built a tremendous media platform to serve the nation’s fast-growing Hispanic population. The opportunity to capitalize on the company’s position to further build our audience and attract an increasing share of advertising dollars, has never been greater. I am looking forward to working with the Entravision management team in continuing to implement the company’s business plan.”

Mr. Ulloa commented, “John DeLorenzo has made major contributions to Entravision’s operations and transformation during the past six years. He is a dedicated and seasoned professional with a unique understanding of the media business. It has been a pleasure to have worked with him in maximizing our performance. On behalf of our shareholders, board and employees, I would like to thank John for his outstanding service to our company.”

Mr. Young was most recently the President of Entravision’s Outdoor Division, a position he held since 2004. Previously, Mr. Young had been the Outdoor Division’s Chief Financial Officer, a role he had held since 2000. Before joining Entravision, Mr. Young had been with the Bank of Montreal, where he was responsible for all of the bank’s corporate finance activity for the broadcasting and outdoor advertising industries. Mr. Young’s prior experience includes tenures at both the Bank of Tokyo in its corporate finance group and Chase Manhattan Bank. He holds a Bachelor of Arts degree in Economics from Columbia University.

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and outdoor operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and/or operated radio stations. The company’s outdoor operations consist of approximately 10,600 advertising faces concentrated primarily in Los Angeles and New York. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.

# # #

For more information, please contact:

Mike Smargiassi/Joe Lobello

Brainerd Communicators, Inc.

212-986-6667

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