Spanish-language media company Entravision Communications Corp. said late Thursday that it is exploring options for its outdoor advertising operations.

The unit, called Vista Media, has about 10,400 billboards located primarily located in New York City and Los Angeles.

Santa Monica-based Entravision said it has hired Citigroup and Moelis Advisors, a division of Mercanti Securities LLC, to serve as its financial advisers while it explores the sale. The company said it will continue to invest in its television and radio assets.

Shares in Entravision shot up 6.4 percent to $7.20 in early trading Friday on the New York Stock Exchange.