Entravision (EVC) has shared an update.
Entravision Digital Holdings, LLC, a subsidiary of Entravision Communications Corporation, has struck a deal to sell MediaDonuts and Redmas to IMS Internet Media Services for around $16.4 million, with potential adjustments. These companies are part of Entravision’s digital partnerships in Asia and Latin America. Additionally, an agreement was made to resolve an outstanding Earn-Out Agreement with the founders of MediaDonuts, ensuring Entravision has no further obligations after a $6.5 million payout. The transaction is slated to finalize by June 28, 2024, pending customary conditions.
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