Benzinga | Sep 1, 2021 03:41PM EDT

Why Entravision Communications Stock Is Trading Higher Wednesday

Entravision Communications (NYSE:EVC) shares are trading higher after the company announced it acquired the remaining 49% interest in Cisneros Interactive.

Entravision now owns 100% of Cisneros Interactive, having first acquired a majority stake in the company back in October 2020.

"This joint venture has been a great addition to Entravision, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in Cisneros Interactive, and we plan to continue to invest in expanding our global footprint, management and digital service tools," said Walter Ulloa, Chairman and Chief Executive Officer of Entravision.

At last check, Entravision Communications shares were trading 10.6% higher at $7.71 per share during the session.