Business
SPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA
SPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA.
About this update from Spanish Broadcasting System, Inc.
[{"type":"text","content":"\n\n\n\nSPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA\nPR Newswire\nMIAMI, Feb. 13, 2023\n\n\n\nLatino Buyer Targets National Audience; SBS Sale Preserves Hispanic Ownership of TV Network\nMIAMI, 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 $64 Million. The transaction is expected to close upon Federal Communications Commission (FCC) approval.\n\n \n \n \n \n \n \n\n \n\"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.\n\"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 stab...