Announcement • May 23
MediaCo Holding Inc. Launches EstrellaTV On KYVV In San Antonio MediaCo Holding Inc. announced the launch of EstrellaTV on KYVV in San Antonio, marking a significant expansion of the network’s full-power broadcast footprint in one of the nation’s most important Hispanic markets. The May 19 launch strengthens EstrellaTV’s distribution and positions the network for continued audience and advertising growth across South Texas as the company builds momentum across its national television portfolio. The move to full-power distribution in San Antonio expands access to EstrellaTV’s growing lineup of entertainment, live sports, news, and culturally resonant programming, including Liga MX coverage featuring Tigres UANL and FC Juárez matches, original entertainment franchises, and daily news programming designed for U.S. Hispanic audiences. The launch continues MediaCo’s broader expansion strategy as the company grows distribution, strengthens local market presence, and builds on the momentum of EstrellaTV’s audience growth. Season-to-date, EstrellaTV is the fastest-growing Spanish-language broadcast network among Adults 18–49 in prime time. New Risk • May 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$3.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.0m free cash flow). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$77.5m market cap).