Entravision Communications Corporation Will Not Restate Second Quarter Financial Statements

Entravision Communications Corporation Will Not Restate Second Quarter Financial Statements

SANTA MONICA, Calif., Nov. 8 /PRNewswire-FirstCall/ -- Entravision Communications Corporation (NYSE:EVC) today announced that the Company has completed an assessment of the accounting treatment of its radio assets in Dallas and has concluded that there was no accounting error in the way the Company reported its income tax provision in its financial statements for the quarter ended June 30, 2006. Accordingly, the Company will not restate its second quarter financial statements, and management's assessment that the Company maintains effective internal controls over financial reporting related to current and prior periods remains unchanged.

The Company had previously announced on Thursday, November 2, 2006 in its third quarter earnings press release that it was assessing whether there may have been an error in its income tax provision in connection with the disposition of its radio assets in Dallas. The Company expects to timely file its quarterly report for the period ended September 30, 2006.

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and outdoor operations to reach approximately 70% of Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 47 owned and operated radio stations. The company's outdoor operations consist of approximately 10,700 advertising faces concentrated primarily in Los Angeles and New York. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.

Source: Entravision Communications Corporation

CONTACT: John DeLorenzo, Chief Financial Officer, Entravision
Communications, Corporation, +1-310-447-3870; or Mike Smargiassi / Jonathan
Lesko, Brainerd Communicators, Inc., +1-212-986-6667

Web site: http://www.entravision.com/

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