SPANISH BROADCASTING SYSTEM ACQUIRES ORLANDO AND TAMPA FM RADIO STATIONS FROM COX RADIO
MIAMI, February 10, 2022 /PRNewswire/ — Spanish Broadcasting System, Inc. (SBS) today announced the acquisition of WPYO(FM) and WSUN(FM), two stations serving Orlando and Tampa radio markets, of CXR Radio LLC as assignment trustee and COX Radio LLC.
The stations are owned in trust by CXR Radio as a result of a Federal Communications Commission (FCC) assignment trust warrant, which stemmed from FCC ownership limitations and the sale of Cox Radio in 2019. Cox Radio , which supported the operation of the stations trust, will also transfer certain related station assets to SBS as part of the transaction.
“SBS greatly appreciates the opportunity to acquire WPYO(FM) and WSUN(FM) to serve the Hispanic communities of Orlando, Tampaand Central Florida and, as such, proactively promote Hispanic media ownership,” commented the CEO of SBS, Raúl Alarcón.
“We are also 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 across the country, including Central Florida sister community of Porto Rico“, Mr. Alarcon added.
The addition of Orlando and Tampa to the SBS portfolio of premier radio properties in the Miami/ft. Lauderdale will strengthen SBS’s position as the largest Spanish-language radio platform Florida. SBS intends to use this expanded footprint to super-serve florida influential Latino constituency, as well as advertisers looking to tap into this growing market.
The transaction is subject to customary closing conditions, including FCC regulatory approval. The transaction is expected to close in the first quarter of 2022.
Spanish Broadcasting System, Inc. (OTC: SBSAA) is a leading Hispanic media company that owns and operates radio stations located in major U.S. Hispanic markets in new York, Los Angeles, Miami, Chicago, San Franciscoand Porto Rico, streaming Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40, and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform that creates, distributes and markets premier Spanish-language content to more than 300 affiliate stations reaching 95% of the U.S. Hispanic audience; and Mega TV, a network television with over-the-air, cable and satellite distribution and affiliates across the United States and Porto Rico. In addition, SBS Entertainment produces major Hispanic-themed concerts and events, and the company also publishes several bilingual websites, including LaMusica, an online destination and mobile app providing streaming content related to music, entertainment , Latin news and culture for today’s Hispanic Americans. consumer. For more information, visit us online at www.spanishbroadcasting.com.
SOURCESpanish Broadcasting System, Inc.