Don't touch that dial: Univision Communications
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) fourth-quarter profit rose 14% on increases in viewership and ad sales. Net income for the Spanish-language broadcaster was $67.2 million, or 19 cents a share, up from $58.9 million, or 17 cents per share, for the year-earlier period. The results missed Wall Street's expectations by a penny, but Chairman and Chief Executive A. Jerrold Perenchio seemed pleased nonetheless. "I am proud of Univision Communications' 2004 results, and based on the terrific momentum in our television and radio ratings, I believe we are positioned for growth and success in 2005 and beyond," the broadcasting billionaire said. The company said its Univision Network drew its largest audience ever in the quarter, with viewership that outnumbered NBC-owned rival Telemundo Communications Group and the combined audiences of the major English-language networks-- Viacom's
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) CBS, General Electric's
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) NBC, the ABC network of The Walt Disney Company
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) and Fox Entertainment Group's
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) Fox Broadcasting. During the earnings call, Perenchio also downplayed reports of disagreement between Univision and shareholders Grupo Televisa
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) and Venevision over his decision last month to promote Ray Rodriguez to president and chief operating officer. And note this, broadcasting upstarts: Perenchio has no plans to retire. "I'm 74 but feel like I'm 47, and I fully intend to remain CEO for many more years," he said. More...
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