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Entravision now owns 100% interest in Cisneros Interactive, a leader in the rapidly growing digital advertising sector in Latin America
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Cisneros Interactive will continue managing the operating business and client outreach, with Victor Kong as its CEO
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Entravision and Cisneros will maintain their strong partnership and will continue to collaborate on potential new digital initiatives worldwide
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Entravision’s digital platform continues to strengthen with global reach that spans over 30 countries across the U.S., Latin America, Europe and Asia
Entravision Communications Corporation (“Entravision” or “the Company”), a leading global media and marketing technology company, announced that the Company has acquired the remaining 49% interest in Cisneros Interactive. Entravision now owns 100% of Cisneros Interactive, having first acquired a majority stake in the company in October 2020. With this full acquisition, Entravision will further position the combined platforms and service portfolio to be one of the largest premier global digital advertising solutions companies.
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“We are excited about this transaction and our continued partnership with Entravision”
Over the past decade, through both organic growth and acquisitions, Entravision’s digital marketing offerings have expanded significantly. Entravision’s Digital business now focuses on several key areas, including: Top Tier global audience and media representations; programmatic technology; digital audio solutions advertising and branding; and mobile performance solutions. Cisneros Interactive maintains unique sales partnerships in 17 Latin American countries, including partnerships with Facebook, Spotify and LinkedIn. The company also offers digital audio solutions and services through representation of a vast audience reached through 350 publishers.
“We are very pleased to continue to invest in the Cisneros Interactive – Entravision business to enhance our digital market leadership,” said Walter Ulloa, Chairman and Chief Executive Officer of Entravision. “This joint venture has been a great addition to Entravision, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in Cisneros Interactive, and we plan to continue to invest in expanding our global footprint, management and digital service tools.”
With the full ownership of Cisneros Interactive, along with Entravision’s most recent acquisition of MediaDonuts, which added digital capabilities in 7 countries in Asia, digital now comprises 73% of consolidated revenue as of the most recently reported quarter ended June 30, 2021. Digital Segment revenue improved over 1,000% year-over-year to total $130.2 million for the second quarter 2021.
“We are excited about this transaction and our continued partnership with Entravision,” said Adriana Cisneros, CEO of Cisneros. “Working with Entravision over the past nine months has been an incredible opportunity to grow the Cisneros Interactive business with Entravision’s resources and broad network capabilities that have further enhanced the strong client and partnership relationships we have built with some of the world’s leading digital companies. Cisneros plans to maintain this active partnership with Entravision by having the Cisneros Interactive management team continue to manage the business and by exploring new digital ventures at a global scale.”
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“Today’s announcement is a major milestone for the Cisneros Interactive and Entravision team, and I would like to thank them and our partners for making this accomplishment possible,” said Victor Kong, Chief Executive Officer of Cisneros Interactive. “With the support of Entravision, Cisneros Interactive’s business has reached new heights. Now, with Entravision acquiring full ownership of our company, we can take our leadership position even further with additional synergies and by further expanding our global reach.”
