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13.02.2023 08:00
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SPANISH BROADCASTING SYSTEM SELLS MEGA TV TO VOZ MEDIA
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PR Newswire
MIAMI, Feb. 13, 2023
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 $64 Million. The transaction is expected to close upon Federal Communications Commission (FCC) approval.
"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 95% of the U.S. Hispanic audience. SBS also owns Mega TV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including LaMusica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a performance showcase for trendsetting new artists and music aficionados. For more information, visit us online at www.spanishbroadcasting.com.
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: | | |
View original content to download multimedia:https://www.prnewswire.com/news-releases/spanish-broadcasting-system-sells-mega-tv-to-voz-media-301745058.html
SOURCE Spanish Broadcasting System, Inc.
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