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SBS Employees Vote to Remove SAG-AFTRA Union

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On July 2, 2021, Spanish Broadcasting System (OTC: SBSAA) announced that employees at its Chicago radio station, WLEY – La Ley 107.9 FM, voted to decertify the SAG-AFTRA union, which had represented them for nearly three years. The National Labor Relations Board confirmed the vote results on June 28. SBS's General Counsel, Richard Lara, expressed respect for the employees’ decision, emphasizing the company's commitment to working directly with its workforce in Chicago to strengthen its presence in the market.

Positive
  • Employees at WLEY voted to decertify the SAG-AFTRA union, allowing SBS to engage directly with staff for personnel matters.
  • The decision may lead to streamlined communication and decision-making processes within the company.
Negative
  • The decertification could indicate dissatisfaction among employees with union representation, potentially impacting employee morale.
  • The lack of a collective bargaining agreement may lead to challenges in resolving employee disputes effectively.

MIAMI, July 2, 2021 /PRNewswire/ -- Spanish Broadcasting System, Inc. (the "Company" or "SBS") (OTC: SBSAA), the nation's largest Hispanic-owned and targeted media and entertainment entity, announced today that employees at its Chicago radio station, WLEY – La Ley 107.9 FM, have voted to decertify and remove the Union that had previously represented them in dealing with the Company. The Union -- Screen Actors Guild, American Federation of Television & Radio Artists, or SAG-AFTRA -- had represented certain on-air talent and production employees in Chicago since being voted in almost three years ago.

Since that time, SBS and the Union had been negotiating the terms of an initial collective bargaining agreement, but no agreement was ever reached. Employees voted on the decertification question by mail over the past few weeks, and the results of the vote were officially confirmed on June 28 by the National Labor Relations Board, the government agency that conducted the vote.

"We greatly respect the important decision made by our employees to move forward without a union to act as intermediary between them and the Company in the resolution of personnel matters at our Chicago facilities," said Richard Lara, SBS General Counsel.  Mr. Lara added, "The Company looks forward to working more directly with our employees to build an even stronger presence in Chicago with our unique branded entertainment in this important market." 

ABOUT SPANISH BROADCASTING SYSTEM, INC.
Spanish Broadcasting System, Inc. is a leading Hispanic media company that owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco, and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40, and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language content to over 300+ affiliated stations reaching 95% of the U.S. Hispanic audience and MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. In addition, SBS produces live concerts and events and publishes multiple bilingual websites, including LaMusica, an online destination and mobile app providing streaming content related to Latin music, entertainment, news, and culture for today's U.S. Hispanic consumer. For more information, visit us online at www.spanishbroadcasting.com.

SBS Contacts:

Press & Media

Vladimir Gomez

VP Corporate Communications

vgomez@sbscorporate.com

(786) 470-1644

Brad Edwards

The Plunkett Group

brad@theplunkettgroup.com

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/sbs-employees-vote-to-remove-sag-aftra-union-301324813.html

SOURCE Spanish Broadcasting System, Inc.

FAQ

What recent decision did SBS employees make regarding union representation?

Employees at SBS's Chicago radio station voted to decertify the SAG-AFTRA union.

When was the vote to decertify the union confirmed?

The vote results were confirmed on June 28, 2021.

What are the implications of employees voting to remove the SAG-AFTRA union at SBS?

This decision allows SBS to communicate directly with employees, but may also affect employee morale and dispute resolution.

What is the stock symbol for Spanish Broadcasting System?

The stock symbol for Spanish Broadcasting System is SBSAA.

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