Earnings Transcript for EVC - Q3 Fiscal Year 2024

Operator: Greetings and welcome to the Entravision Third Quarter 2024 Earnings Report. As a reminder, this conference is being recorded. It is now my pleasure to turn the call over to Roy Nir from Entravision.

Roy Nir: Good afternoon, everyone. I am Roy Nir, Vice President of Financial Reporting and Investor Relations. Welcome to Entravision's third quarter 2024 earnings report. Joining me today are Michael Christenson, Chief Executive Officer; and Mark Boelke, Chief Financial Officer. Before we begin, I must inform you that our report will contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ. Please refer to Entravision's SEC filings for a list of risks and uncertainties that could impact actual results. Our report will also include non-GAAP financial measures. The company has provided a reconciliation of these non-GAAP financial measures to their most comparable GAAP measures in its press release. The press release is available on the company's Investor Relations page and was filed with the SEC on Form 8-K. I will now turn it over to Michael Christenson.

Michael Christenson: Thank you, Roy and thanks to all of you for joining us for this report today. When we last reported our 2Q results for the quarter ending in June, we talked about the transformation we completed with the separation of our digital platform representation business and the sale of several other operations. More importantly, we talked about how we were investing in our media business and in our remaining advertising technology and services businesses. In media, our mission is to serve our Latino audience, to be the trusted provider of useful news, information and entertainment and to serve our advertisers by providing multichannel marketing capabilities to engage our audience. Remember, this is an audience we've served for three decades. We talked about 2 important investments in our media business

Mark Boelke: Thank you, Mike. During 2024, we've undertaken initiatives to reorganize our business units and their management, operations, sales and support teams in order to better drive revenue, support our business units and reduce expense. As a result of these initiatives, we have realigned our financial reporting into 2 operating segments, consistent with our management and operational structure, beginning with the third quarter of 2024. The first operating segment is Media which consists of our television, radio and U.S. digital media businesses. The Media business primarily consists of the sale of advertising to local and national advertisers in the United States through a combination of television, radio and digital media platforms. The second operating segment is Advertising, Technology and Services which consists of 2 business units

End of Q&A: Thank you. Ladies and gentlemen, the conference has now ended. Thank you all for joining. You may all disconnect your lines.