Entravision Communications Corp. Files 8-K

TL;DR

Entravision signed a material definitive agreement on May 6th. Details TBD.

AI Summary

On May 6, 2024, Entravision Communications Corp. entered into a Material Definitive Agreement, the details of which are not fully disclosed in this filing. The company, incorporated in Delaware, operates in Television Broadcasting Stations and is headquartered in Santa Monica, California.

Why It Matters

This 8-K filing indicates a significant event for Entravision Communications Corp., potentially impacting its business operations or financial standing.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could have significant implications for the company, but the lack of specific details makes the immediate risk level uncertain.

Key Numbers

• 001-15997 — SEC File Number (Identifies the company's filing history with the SEC.)
• 95-4783236 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Entravision Communications Corp. (company) — Registrant
• May 06, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Santa Monica, California (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $16.2 million — ny receives 15.0 million (approximately $16.2 million as of the Effective Date) ("Total Consi

Filing Documents

• evc-20240506.htm (8-K) — 39KB
• evc-ex10_1.htm (EX-10.1) — 159KB
• 0000950170-24-054755.txt ( ) — 330KB
• evc-20240506.xsd (EX-101.SCH) — 24KB
• evc-20240506_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 6, 2024 (the "Effective Date"), Entravision Communications Corporation (the "Company") entered into a Share Purchase Agreement (the "Purchase Agreement"), among Adsmurai, S.L. ("Adsmurai"), the Company and the other stockholders of Adsmurai (the "Buyers"). Adsmurai is a Spanish company engaged in the sale and marketing of digital advertising technology platforms. Pursuant to the Purchase Agreement, as of the Effective Date (i) the Company sold its 51% equity interest in Adsmurai to Buyers, (ii) the Company terminated loans it made to Buyers in the principal amount of 12.3 million and (iii) the parties terminated other previous agreements made between them, including an Options Agreement which contained put redemption features for Buyers and call redemption features for the Company. As consideration, the Company receives 15.0 million (approximately $16.2 million as of the Effective Date) ("Total Consideration"). The Purchase Agreement also contains representations, warranties, covenants, indemnities and releases of the parties thereto. The Total Consideration is payable to the Company as follows: 10.0 million paid on the Effective Date; and 5.0 million to be paid within six months of the Effective Date. The foregoing summary of the Purchase Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of such agreement, a copies of which is attached hereto as Exhibit 10.1, and incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Share Purchase Agreement by and among Entravision Communications Corporation, the buying stockholder parties thereto, and Adsmurai, S.L. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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: May 7, 2024 By: /s/ Michael J. Christenson Michael J. Christenson, Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR