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Entravision Communications Corporation Message Board

  • outpissed outpissed Aug 6, 2013 10:51 AM Flag

    Phillip wilkerson

    It is probably worth noting that since Phillip was ousted as COO in early 2012 he has had a "consulting contract" which rounds up to about $1M/year in EVC expenses. This cost, like the prevoius high interest expence will not be incurred in 2014 as Wilkerson's "golden"contract expires in late 2013.

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    • He's at it again. We should get used to the ousted COO selling out and buy some cheap shares with each of his filings.....

    • I think we should settle in and get used to our former COO (replaced early 2012) reducing his shares. I wish an analyst would have asked about Wilkerson's situation in the conference call so EVC could provide a bit of history on Wilkerson's ouster and his short remaining contract term.

      Wilkerson has 5-6 million shares and his golden parachute "consulting" contract is up in a few months ($70k/month more to shareholders).

      In the past I personally have not seen Wilkerson exercise much in the way of good judgement. I suspect we'll have to endure his insider sale filings as he dribbles away his shares.

    • Wilkerson was a good salesman back in the 90's. He was in the right place at the right time to help grow EVC. But more recently he lacked the strategic vision that was necessary to support the small 100% buyout of LER during the recession (now Entravision Reps) and the development of EVC's 360 concept of business offerings which has seen EVC's digital grow quickly and become a significant contributor to sales growth as packaged 360 marketing campaigns. A lot of employees did not like Wilkerson's gruff attitude. He tends to be spiteful and less than constructive. He was unpleasant with analysts on earnings calls as well. I wouldn't be surprised if he "resigns" from the board at some point as well. He is old school, stuck in the 90's, not an asset.

      Walter and Jeffery were effectively shaping EVC strategy long before Wilkerson was pushed out. The writing was on the wall back in 2011.

      • 1 Reply to truth.monger
      • Wilkerson's divorce probably explains his selling program. Comparatively Walter has a huge ownership position and has not sold - I appreciate that conviction in a CEO. Another director bought a significant amount at about $5. EVC is by far the largest public entity focused on this lucrative growth segment. Univision is private but even if Univision was public it would be more than twice as leveraged when compared to EVC.

        EVC is financially clean, a real gem, and the recent refinance terms proved that out.

        What else is there? SBSA is joke and basically bankrupt. SBSA owns only 21 radio stations no profitable TV assets (MEGA misadventure) and despite the complete lack of productive assets SBSA somehow amassed more debt than EVC. Comparatively, EVC has massive cash generation growth from its 56 TV & 49 radio operations.

        If anything, when SBSA is eventually liquidated by its debt holders EVC may have the opportunity to integrate several radio stations into their existing radio formats on the cheap.

        Based on the documented growth of this market and the clarity provided by the new long term financing I am perplexed as to why EVC is in the $6 range. Glad to take advantage though.

 
EVC
3.93-0.03(-0.76%)Oct 1 4:02 PMEDT

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