Entravision Communications Corp. has acquired the remaining 50 percent interest in Lotus Entravision Reps, its national sales rep firm.

The Los Angeles Spanish language radio and TV station owner on Monday said that it bought out its partner, Los Angeles-based Lotus Communications Corp., but did not disclose financial terms of the deal.

Lotus Entravision Reps, formed in 2001, handles sales for more than 156 Spanish-language radio stations, reaching about 68 percent of the U.S. Hispanic market, Entravision said. It will become a consolidated and wholly-owned subsidiary of Entravision under the continued direction of President Phillip Woodie.

“LER has a strong market position and deep relationships with many of the nation’s leading advertisers and agencies,” said Chief Executive Walter F. Ulloa in a statement. “LER has a proven track record and attractive growth profile given the rapidly expanding U.S. Hispanic population and the continued recovery in the advertising market.”

Shares were down 6 cents, or 2.6 percent, to $2.28 in midday trading on the New York Stock Exchange.