Univision Profits Up In Q3

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Univision said its third-quarter profits rose despite coming off a World Cup year.

Univision's net income jumped to $290 million from $44.1 million a year ago because of a $239 million income tax benefit. Income from continuing operation before income tax was $51 million, up from $45 million a year ago.

Net revenue rose 1.7% to $585 million. A year ago, Univision broadcast the World Cup, and generated $25.6 million in net revenue during the quarter. Spanish-language rights to the World Cup will be moving to rival Telemundo starting in 2015.

"Univision's solid third quarter results reflect the continuing strength of our multi-platform properties, including our flagship television network, which beat ABC, CBS, NBC and Fox to rank first in primetime among adults 18 to 34 for the entire third quarter," Randy Falco, Univision president and CEO said in a statement.

"In the nine months since our landmark agreement with Televisa, Univision has positioned itself to harness the full power of our expanded content, capabilities and resources to diversify revenue streams," Falco said. "In addition, we have been managing expenses in a challenging macroeconomic environment and capitalizing on the groundswell of advertiser demand following the 2010 Census."

"As we move into the fourth quarter and 2012, we are focused on advancing our momentum with retransmission consent negotiations and the expansion of our multi-platform content monetization strategy," he said, citing Univision's recent deal with Hulu.

Univision's television unit had $207.7 million in operating income, up from $200.5 million a year ago as revenue rose to $480.9 million from $472.8 million.

Read more at B&C here.

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