0001193125-13-462892.txt : 20131205 0001193125-13-462892.hdr.sgml : 20131205 20131205083059 ACCESSION NUMBER: 0001193125-13-462892 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20131205 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131205 DATE AS OF CHANGE: 20131205 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: 131258789 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 d638880d8k.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): December 5, 2013

 

 

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)

(310) 447-3870

(Registrant’s telephone number, including area code)

N/A

(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 8.01 Other Events.

On December 5, 2013, Entravision Communications Corporation (the “Company”) issued a press release announcing that its Board of Directors (the “Board”) approved the initiation of a quarterly cash dividend to its shareholders and has declared an initial quarterly dividend of $0.025 per share of the Company’s Class A, Class B and Class U common stock, payable on December 30, 2013 to all shareholders of record as of the close of business on December 16, 2013. The Company currently anticipates that future cash dividends will be paid on a quarterly basis. Any decision to pay future cash dividends will be subject to further approval by the Board.

The Company also announced that the Board declared a special one-time cash dividend of $0.10 per share to shareholders of the Company’s Class A, Class B and Class U common stock, payable on December 30, 2013 to shareholders of record as of the close of business on December 16, 2013.

The Company also announced its intention to prepay $10 million of term loans under the Company’s senior secured term loan credit facility entered into on May 31, 2013. The company currently anticipates funding this prepayment by using cash on hand. Following this prepayment, approximately $364 million will remain outstanding under the Company’s term loan credit facility.

A copy of the press release is attached to this report as Exhibit 99.1.

This report contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding any future payment of cash dividends, are forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. These risks and uncertainties include, but are not limited to, impacts of the global recession and tight credit markets; and other risks described under the caption “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2012. The Company assumes no obligation, and disclaims any duty, to update the forward-looking statements in this report.

 

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

99.1    Press release issued by Entravision Communications Corporation on December 5, 2013.

 

- 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: December 5, 2013     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 December 5, 2013.

 

- 4 -

EX-99.1 2 d638880dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

ENTRAVISION COMMUNICATIONS CORPORATION

INITIATES QUARTERLY CASH DIVIDEND

Also Announces Special One-Time Dividend to Shareholders and Partial Debt Prepayment

SANTA MONICA, CALIFORNIA – December 5, 2013 – Entravision Communications Corporation (NYSE: EVC) announced today that its Board of Directors has approved the initiation of a quarterly cash dividend to shareholders and has declared an initial quarterly cash dividend of $0.025 per share of the Company’s Class A, Class B and Class U common stock, in an aggregate amount of approximately $2.2 million. The initial quarterly dividend will be payable on December 30, 2013 to shareholders of record as of the close of business on December 16, 2013, and the common stock will trade ex-dividend on December 12, 2013.

The Company’s Board of Directors has also declared a special one-time cash dividend of $0.10 per share to shareholders of the company’s Class A, Class B and Class U common stock, in an aggregate amount of approximately $8.8 million. The special one-time dividend will be payable on December 30, 2013 to shareholders of record as of the close of business on December 16, 2013, and the common stock will trade ex-dividend on December 12, 2013.

In addition, the Company announced its intention to prepay $10 million of term loans under the Company’s senior secured term loan credit facility entered into on May 31, 2013. The Company currently anticipates funding this prepayment by using cash on hand. Following the prepayment, approximately $364 million will remain outstanding under the Company’s term loan credit facility.

“Our strong financial performance and balance sheet offers us the opportunity to return value directly to our shareholders through the first quarterly dividend in Entravision’s history,” said Walter F. Ulloa, Chairman and Chief Executive Office of Entravision. “We are pleased to deliver additional returns through the one-time special dividend as well as further reduce our debt and strengthen our balance sheet. Our liquidity position remains solid and we are focused on continuing to execute our growth strategy and generate strong operating results.”

About Entravision Communications Corporation

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and digital operations to reach Latino 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 UniMas network, with television stations in 19 of the nation’s top 50 Latino markets. The company owns and/or operates 56 primary television stations and also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 49 owned and operated radio stations. Additionally, Entravision has a variety of cross-platform digital content and sales offerings designed to capitalize on the company’s leadership position within the Latino broadcasting community. 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/Brad Edwards

Brainerd Communicators, Inc.

212-986-6667

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