Entravision Communications Corp 8-K, filed Apr 24, 2025
Entravision Communications Corp (EVC)
About this 8-K
Entravision Communications Corp filed this 8-K on April 24, 2025, reporting on events of April 18, 2025.
Items reported
- Item 1.02: Ended a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.02 Termination of a Material Definitive Agreement.
Entravision Communications Corporation (the “Company”) is party to that certain Office Lease, dated as of August 19, 1999, between the Company and Water Garden Company, LLC (the “Landlord”), as amended by that certain First Amendment to Lease and Agreement Re: Sixth Floor Additional Space dated as of March 15, 2001, that certain Second Amendment to Lease dated as of October 5, 2005, that certain Third Amendment to Lease dated as of January 31, 2011, that certain Fourth Amendment to Lease dated as of January 14, 2021, that certain Fifth Amendment to Lease dated as of February 16, 2022, and that certain Sixth Amendment to Lease dated as of June 7, 2022 (collectively, the “Lease”). As previously disclosed by the Company in its Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on March 6, 2025, the Company's management decided to vacate its previous corporate headquarters in Santa Monica, California in February 2025 and cease making further payments under the Lease, which was scheduled to expire June 31, 2034.
On April 18, 2025, the Landlord notified the Company that the Landlord was terminating the Lease pursuant to its terms.
As of December 31, 2024, the Company's consolidated balance sheet included the following amounts related to this lease (in millions):
Operating leases right of use asset |
$ |
16.3 |
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Property and equipment, net of accumulated depreciation |
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9.3 |
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Operating lease liabilities |
$ |
1.5 |
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Long-term operating lease liabilities |
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21.2 |
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The Company is currently unable to estimate the actual costs and damages that may be incurred by the Company as a result of the termination.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Entravision Communications Corporation |
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Date: |
April 24, 2025 |
By: |
/s/ Michael Christenson |
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Michael Christenson, Chief Executive Officer |