Fastest way to remove htmlentities and whitespaces and replace single & double quotes

Question

I have this code:

$text_without_tags = strip_tags($text);
$text_without_unwanted_characters = preg_replace('/&#?[a-z0-9]{2,8};/i', '', $text_without_tags);
$text_without_spaces = preg_replace('/\s+/', ' ', $text_without_unwanted_characters);
$replace_single_quote = str_replace('’', "'", $text_without_spaces);
$replace_double_quotes = str_replace('”', '"', $replace_single_quote);
$replace_minus = str_replace('—', '-', $replace_double_quotes);

Is this best way to do what I want? Because execution time is veeery long. I have a lot of text but I'm sure this slows result.

LE: I want to remove htmlentities and whitespaces and replace single & double quotes + minus sign.

$text =

<div class="body">&#13;
                                <p>”Sed non risus dictum, tempor leo et, bibendum nunc. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos”. Nulla tincidunt, justo vel hendrerit pellentesque, arcu justo auctor tortor, at venenatis urna nisl at lacus. ’Etiam hendrerit’ lacus eu —augue pellentesque consequat ac non tellus. Vestibulum feugiat posuere cursus. Nulla accumsan purus ligula, vel accumsan nunc tincidunt condimentum. Praesent ac nibh luctus, interdum erat dapibus, adipiscing dui. Nunc tempus turpis eu dolor eleifend, in interdum nisi tempor. Mauris at lacinia tellus, pharetra euismod erat. Phasellus placerat tristique orci, lacinia feugiat purus scelerisque eu. Sed felis neque, cursus eu dictum at, blandit sit amet urna. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Proin eu malesuada ante. Quisque dui turpis, sagittis eu molestie eget, porta eu tellus. </p>
<p>Â </p>
<p>Â </p>
<p>Â </p>
<p><img title=x" border="0" alt=z" src="http://placehold.it/600x365" width="600" height="365"/></p>
                                                                &#13;
                            </div>

Answer 1

function clean($text) {
  return preg_replace(
    array('/&#?[a-z0-9]{2,8};/i', '/\s+/'),
    array('',' '),
    str_replace(
      array('’','”','—'),
      array('\'','"','-'),
      strip_tags($text)
    )
  );
}

echo clean($text);

Update :

You can refactor the code with only single preg_replace like this:

function clean($text) {
  return preg_replace(
    array('/&#?[a-z0-9]{2,8};/i', '/\s+/','/’/','/”/','/—/'),
    array('',' ','\'','"','-'),
    strip_tags($text)
  );
}