SPANISH BROADCASTING SYSTEM TO ACQUIRE ORLANDO AND TAMPA FM RADIO STATIONS FROM COX RADIO
Spanish Broadcasting System (SBS) has announced its acquisition of WPYO(FM) and WSUN(FM) from CXR Radio LLC and COX Radio LLC, serving the Orlando and Tampa radio markets. This acquisition is part of a divestiture trust mandated by the FCC following ownership limitations. SBS aims to enhance its service to Hispanic communities in Central Florida, promoting Hispanic ownership in media. The expansion solidifies SBS as Florida's largest Spanish-language radio platform, expected to close in Q1 2022, pending FCC approval.
- Acquisition of WPYO(FM) and WSUN(FM) expands SBS's reach in Florida, enhancing its service to the Hispanic community.
- Solidifies SBS's position as the largest Spanish-language radio platform in Florida, offering growth opportunities.
- None.
MIAMI, Feb. 10, 2022 /PRNewswire/ -- Spanish Broadcasting System, Inc. (SBS) today announced it will acquire WPYO(FM) and WSUN(FM), two stations serving the Orlando and Tampa radio markets, from CXR Radio LLC as divestiture trustee and COX Radio LLC.
The stations are held in trust by CXR Radio as a result of a divestiture trust mandate by the Federal Communications Commission (FCC), which arose from FCC ownership limitations and the sale of Cox Radio in 2019. Cox Radio, which has supported the trust's operation of the stations, will also convey certain related station assets to SBS as part of the transaction.
"SBS is greatly appreciative of the opportunity to acquire WPYO(FM) and WSUN(FM) in order to serve the Hispanic communities of Orlando, Tampa, and Central Florida and, as such, proactively promote Hispanic ownership of the media," commented SBS Chairman and CEO, Raúl Alarcón.
"We are likewise grateful for the outpouring of support from the Orlando and Tampa communities, their civic organizations and a bipartisan coalition of city, state and federal elected officials, as well as hundreds of Hispanic leaders and institutions from around the country, including Central Florida's sister community of Puerto Rico," added Mr. Alarcón.
The addition of Orlando and Tampa to the SBS portfolio of leading radio properties in the Miami/Ft. Lauderdale market will solidify SBS' standing as the largest Spanish-language radio platform in Florida. SBS intends to utilize this expanded footprint to super-serve Florida's influential Latino constituency, as well as the advertisers seeking to tap into this burgeoning marketplace.
The transaction is subject to customary closing conditions, including FCC regulatory approval. It is expected that the transaction will close in the first quarter of 2022.
About SBS
Spanish Broadcasting System, Inc. (OTC: SBSAA) 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
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SOURCE Spanish Broadcasting System, Inc.
FAQ
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