SPANISH BRDCSTNG SYS A - SBSAA STOCK NEWS

Oak View Group and SBS Entertainment have established a multi-year strategic partnership to enhance the live Latin music experience across North America. This collaboration will bring SBS's signature events, such as Mega Mezcla and Calibash, to major venues including New York's UBS Arena starting December 2023. The Latin music market has significantly grown, with revenue rising to $886M in 2021, outpacing the broader music industry. This partnership aims to capitalize on this trend by creating new events and expanding existing ones, engaging a diverse audience. Enhanced programming will also take place in venues like Moody Center in Austin and Acrisure Arena in Greater Palm Springs, with plans for further expansion into Europe. This deal marks a pivotal move for both companies in redefining live entertainment in the Latin music sector.

On February 15, 2023, Spanish Broadcasting System (SBS) announced receiving FCC approval to increase foreign ownership limits to 49.99%. This ruling permits foreign investors to own a larger share in the company, exceeding the previous 25% benchmark set by the Communications Act of 1934. Furthermore, SBS issued 1,167,568 shares of Class A Common Stock as part of a settlement with former Series B Preferred Stock holders. This settlement resolves litigation from the Delaware Chancery Court and reinforces SBS's growth potential within the Hispanic broadcasting market.

Spanish Broadcasting System (SBS) announced the sale of its Mega TV business and associated real estate to Voz Media for $64 million. This transaction, awaiting FCC approval, aims to preserve Hispanic ownership in media. Raúl Alarcón, SBS's CEO, expressed pride in Mega TV's legacy and its dedication to Hispanic audiences in the U.S. and Puerto Rico. Voz Media's founder, Orlando Salazar, emphasized the importance of continuing Mega TV's mission. SBS operates key radio stations and digital platforms, while Voz Media will expand content catering to the Spanish-speaking community.

Spanish Broadcasting System (SBS) released a report revealing that advertising on Hispanic-owned radio stations resulted in a 12% higher return on investment (ROAS) compared to other brands from 2017-2021. The report, produced in collaboration with Nielsen, highlights the growth of the Latino population, with collective buying power projected to reach $2.6 trillion soon. Despite this, less than 10% of local radio ad spending goes to Hispanic-targeted stations. SBS aims to connect brands with the Latino community through culturally relevant content.

Spanish Broadcasting System, Inc. (SBSAA) announced the induction of President & COO Albert Rodriguez into the American Advertising Federation (AAF) on Nov. 16, 2022. This recognition underscores his leadership and commitment to diversity in the advertising sector. Rodriguez has over 20 years of experience at SBS, playing a pivotal role in its growth as a leading minority-owned multi-media company. His past accolades include being named one of Radio Ink's Top 40 most powerful people and Broadcaster of the Year, reflecting his significant impact on the industry.

Romeo Santos performed to a sold-out crowd of 13,000 fans at Tampa's Amalie Arena on November 2, 2022, as part of a free concert sponsored by WSUN-FM, Tampa's new Hispanic radio station. This event marked the station's debut and was a unique kickoff for its El Zol 97.1 format. Alessandra Alarcon, President of SBS Entertainment, celebrated the concert's success, which attracted fans from across the nation. The concert was co-produced with LaMusica App and sponsors included ATT and Ron Barceló, paving the way for further engagements.

Spanish Broadcasting System, Inc. (SBS) has appointed Dara Kalvort as the Vice President of Digital Sales and Strategy for its new digital marketing department, Digidea. With over 20 years in the media and sales industry, Kalvort aims to enhance digital marketing solutions for SBS clients, leveraging the growth of the U.S. Hispanic population, which significantly contributes to the nation's demographic expansion. Digidea is set to launch in Q4 2022, promising full-service marketing experiences for clients.

On September 19, 2022, Spanish Broadcasting System, Inc. (OTC Pink: SBSAA) appointed Fernando Bauermeister as General Manager for El Nuevo Zol 95.3FM in Orlando and El Nuevo Zol 97.1FM in Tampa. Bauermeister, a media sales expert with over 25 years of experience, previously worked with SBS from 1995 to 2005. He aims to enhance the company's presence in Florida through strategic operations and staff hiring. The SBS leadership expresses confidence in Bauermeister's capabilities to drive success for the new stations.