Spanish Broadcasting System Sells Off Television Division

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SPANISH BROADCASTING SYSTEM is getting out of the TV business, selling its MEGA TV division -- WSBS-TV/KEY WEST, WSBS-CD/MIAMI, and WTCV (TV)/SAN JUAN-WVEO-TV/AGUADILLA, PR-WVOZ-TV/PONCE, PR, along with its network operations and studio building in MIAMI -- to ORLANDO SALAZAR's VOZ MEDIA, a conservative Spanish-language content producer, for $64 million.

SBS Chairman/CEO RAÚL ALARCÓN said, "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.

"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," said SALAZAR. "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."

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