Entravision Communications Corporation (NYSE:EVC) shares are plummeting today after the company received communication from Meta Platforms Inc (NASDAQ:META) that it intends to wind down its authorized sales partner (ASPs) program.
On March 4, 2024, the company received a communication from Meta that it will end its relationship with all ASPs, including Entravision, by July 1.
Related: Meta’s Strategy Shift: Direct Engagement with Advertisers as Authorized Sales Program Winds Down
For 2023, Meta’s ASP program represented around $23.8 million of the company’s $57.7 million total EBITDA and …