SPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA
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.
- Sale of Mega TV for $64 million enhances liquidity.
- Transaction preserves Hispanic ownership in media.
- None.
Latino Buyer Targets National Audience; SBS Sale Preserves Hispanic Ownership of TV Network
MIAMI, Feb. 13, 2023 /PRNewswire/ -- Spanish Broadcasting System, Inc. (the "Company" or "SBS") (OTC Pink: SBSAA) today announced the sale of its Mega TV business and certain associated real estate to Voz Media for a total acquisition price of
"I am very proud of the nearly two decades of award-winning programming, community dedication and industry accomplishments achieved by Mega TV, a network operation that succeeded in forging its own unique position among Hispanic viewers in the U.S. and Puerto Rico," commented Raúl Alarcón, Chairman and Chief Executive Officer of SBS.
"I am especially pleased to leave this unique asset in the hands of a dedicated Hispanic owner, Orlando Salazar, the founder of Voz Media, who will continue the expansion of Mega TV and honor its unwavering commitment to faithfully serve our nation's burgeoning Latino population. Minority ownership of the media, and the opportunities it affords to our nation's fastest-growing constituency, is a critical component in guaranteeing a stable, profitable and promising future for America."
"It is an honor for Voz Media to be selected to continue the work and tradition started by Raúl Alarcón and Mega TV in the Spanish language television media market," stated Orlando Salazar, founder of Voz Media. "We take seriously the challenge of moving Mega TV forward in both reach and content, as we continue to serve Spanish speakers across the United States."
"We couldn't be more proud of the fact that the legacy of Mega TV will continue under the leadership of another Hispanic-owned media company," added Albert Rodriguez, President and Chief Operating Officer of SBS. "Orlando and the Voz Media team have our unqualified support and we look forward to working with them throughout this transition and beyond."
Voz Media currently has offices and studios in Dallas as well as in Miami and Madrid. Voz Media provides alternative news and content for Latinos in the U.S., as well as Latin America, that reflect the core Hispanic values of hard work, faith and commitment to family.
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of Los Angeles, New York, Puerto Rico, Chicago, Miami, San Francisco, Orlando, and Tampa, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching
About Voz Media
Voz Media was founded by businessman Orlando Salazar in Dallas, Texas. Mr. Salazar is a native Texan whose grandparents were of Mexican descent. Mr. Salazar is the owner and CEO of Voz Media.
Voz Media's headquarters are in Las Colinas. Texas and Voz also has offices in Madrid, Spain and Miami, Florida.
You can visit Voz Media at its website (http://www.voz.us), or its mobile app. Voz Media is also accessible on the Facebook, Twitter, Instagram and TikTok (http://vm.TikTok.com) platforms as well as on its proprietary YouTube channel. Voz Media has 1.3 million social media followers.
Voz Media produces daily news content and will soon produce family viewing content in the form of series, documentaries, movies and sitcoms on its streaming platform in the months to come. Voz Media is committed to providing a fresh, new, alternative point of view for news and wholesome family viewing for the diverse U.S. Spanish speaking market.
SBS Contacts: | ||
Analysts and Investors | Analysts, Investors or Media | |
José I. Molina | Brad Edwards | |
Chief Financial Officer | The Plunkett Group | |
(305) 441-6901 | (914) 582-4187 | |
Voz Contacts: |
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SOURCE Spanish Broadcasting System, Inc.
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