Univision Communications Inc.’s fourth-quarter net profit more than tripled on growth in the company’s advertising businesses.

Fourth quarter net income spiked to $99.7 million, or 29 cents per share, as compared with $27.4 million, or 8 cents per share a year ago.

Revenue for the Los Angeles-based Spanish TV broadcast and media company rose 6.5 percent to $546.9 million, fueled by cost cutting measures and TV and radio advertising growth, which offset a slip in music revenue.

Excluding one-time costs, the company’s profit was 33 cents per share, which beat analysts’ estimates of 30 cents, according to a Bloomberg survey.

Univision also added that it expects its sale to an investor group headed by Haim Saban to be completed by March 31.

Shares in Univision closed down 7 cents to $35.82 Friday.