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Entravision Communications lowering leverage, revolver remains undrawn
By Lisa Kerner
Charlotte, N.C., Dec. 4 - Entravision Communications Corp. is closer to its goal of reducing its leverage to five times by year end, said Walter Ulloa, chairman and chief executive officer, at the UBS 40th Annual Global Media and Communications Conference in New York on Tuesday.
The company's leverage at the end of the third quarter was at 5.5 times.
Entravision reported total cash at the end of the quarter of about $45 million and total debt of about $364 million, with no drawings under its $50 million revolver.
Based in Santa Monica, Calif., Entravision Communications is a diversified Spanish-language media company.
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