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 18, 2018
ENTRAVISION COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
001-15997 |
95-4783236 |
(State or other jurisdiction |
(Commission |
(IRS Employer |
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On December 18, 2018, Entravision Communications Corporation (the “Company”) issued a press release announcing its intention to prepay, on December 31, 2018, $50 million of term loans under the Company’s senior secured term loan credit facility entered into on November 30, 2017. The Company anticipates funding this prepayment by using cash on hand. Following this prepayment, approximately $246 million will remain outstanding under the Company’s term loan credit facility. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K.
The information provided pursuant to Item 8.01 in this Current Report on Form 8-K, including the exhibit thereto, is being furnished under Item 8.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference into any future registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing
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, risks described under the caption “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2017. 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
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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.
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ENTRAVISION COMMUNICATIONS |
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Date: December 18, 2018 |
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By: |
/s/ Walter F. Ulloa |
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Walter F. Ulloa |
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Chairman and Chief Executive |
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Exhibit 99.1
Entravision Communications Corporation Announces Partial Debt Repayment
SANTA MONICA, CA – December 18, 2018 - Entravision Communications Corporation (NYSE: EVC), a diversified global media and advertising technology company serving Latino consumers, today announced its intention to make a prepayment on December 31, 2018 of $50 million of term loans under the company’s senior secured term loan credit facility entered into on November 30, 2017. Entravision anticipates funding this prepayment by using cash on hand. Following the prepayment, approximately $246 million will remain outstanding under the company’s term loan credit facility.
“We continue to proactively manage our capital structure and over the past several years have opportunistically reduced our total debt,” said Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision. “With a solid balance sheet and sound financial performance, we remain well positioned to continue to execute on our strategic plan.”
About Entravision Communications Corporation
Entravision is a diversified global media, advertising technology and data analytics company that reaches and engages Latino consumers in the U.S. and other markets primarily including Mexico, Latin America and Spain. Entravision’s portfolio includes digital media properties and advertising technology platforms that deliver performance-based solutions and data insights, along with 55 television stations and 49 radio stations. Entravision’s digital and technology businesses include Headway, a leading global provider of mobile, programmatic, data and performance digital marketing solutions, as well as Pulpo Media, the top-ranked online advertising platform in connecting businesses with U.S. Latinos. Entravision is the largest affiliate group of both the Univision and UniMás television networks, and its Spanish-language radio stations feature its nationally recognized talent. Entravision also operates Entravision Solutions, a national sales and marketing organization representing over 300 owned and affiliated radio stations, radio networks and digital media platforms, and Headway’s audio advertising platform, AudioEngage. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC. Learn more at: www.entravision.com.
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For Entravision:
Mike Smargiassi
The Plunkett Group
212-739-6729
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