Canopy Growth stock tumbles after announcing $200 million share sale plan
NEW YORK - Estrella MediaCo, a division of MediaCo Holding Inc. (Nasdaq: MDIA), a $66.5 million market cap media company that has seen its stock surge over 21% in the past week, announced the promotion of two key executives in a strategic move to enhance its digital and national sales operations. According to InvestingPro analysis, the company appears slightly undervalued based on its Fair Value estimates. Rogerio Alves has been appointed as Vice President, Digital Sales – CTV and Audio Streaming, and Sandra Sanchez has been named Vice President, National Sales.
Alves will be responsible for leading monetization strategies for Estrella’s digital video and audio portfolio, which includes FAST channels, CTV, and streaming audio platforms. His role will focus on driving innovation and results within the company’s digital growth strategy. Alves’ promotion reflects his significant contributions to the company’s digital platforms and his comprehensive understanding of the media landscape.
Sanchez’s new role will involve overseeing Estrella’s broadcast and digital sales across all national spot markets. Her promotion comes in recognition of her pivotal role in strengthening relationships with key agencies and clients, as well as her impact on Estrella’s national market presence. Sanchez is noted for her precise and passionate approach to client partnerships and her influential leadership in the industry.
Both Alves and Sanchez will report to Brian Fisher, Senior Vice President of Video Sales at Estrella MediaCo, who manages all sales for the company’s digital and broadcast video platforms. Fisher praised the promotions as a testament to the exceptional talent within Estrella MediaCo and highlighted the importance of trusted leadership in delivering brand results while representing multicultural media’s power and authenticity.
MediaCo Holding Inc. is a diverse-owned media company that reaches multicultural audiences through its portfolio of digital, television, and radio properties, including EstrellaTV, Estrella News, Hot 97, WBLS, and Que Buena LA. The company engages over 20 million people monthly, providing a mix of free, ad-supported streaming and terrestrial entertainment, music, and news across various media platforms and devices. The company has demonstrated impressive revenue growth of 268% over the last twelve months, though InvestingPro data reveals several financial challenges ahead. Subscribers to InvestingPro can access 8 additional key insights about MDIA’s financial health and growth prospects.
The information in this article is based on a press release statement from MediaCo Holding Inc. With a beta of -0.33, the stock typically moves contrary to broader market trends, potentially offering unique portfolio diversification opportunities. For detailed analysis and comprehensive financial metrics, visit InvestingPro.
In other recent news, MediaCo Holding Inc. has announced several significant developments. The company reported the approval of a major stock issuance by its shareholders, linked to the acquisition of assets from Estrella Broadcasting, Inc. This approval allows MediaCo to issue up to 28,206,152 shares of Class A Common Stock, with an additional 7,051,538 shares approved for potential exercise of options or put rights. Additionally, MediaCo has appointed Deloitte & Touche LLP as its new auditor, replacing Ernst & Young LLP. The change was not due to any disagreements on accounting principles but follows a material weakness noted by Ernst & Young related to the company’s business combination with Estrella Broadcasting. MediaCo has also strengthened its leadership team with the promotion of Brian Fisher, Danny Lowry, and the appointment of Luis Fernández-Rocha to senior vice president roles. These leadership changes are part of the company’s strategy to enhance its market presence and value proposition. The recent moves, including the stock issuance and auditor change, underscore MediaCo’s commitment to growth and regulatory compliance.
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