SBS Revenue Up, Loss Narrows For Q4

SPANISH BROADCASTING SYSTEM fourth quarter net revenue grew 2% to $46.9 million, attributed to additional revenue from start-up KRZZ/SAN FRANCISCO and increases in NEW YORK and LOS ANGELES, offset by a drop in MIAMI. Net losses narrowed from $10.4 million to $4.8 million (16 to 7 cents/share). The company also sustained increased expenses for the startup of its new MIAMI-market TV station, WSBS-TV-DT (formerly WDLP-TV-DT)/KEY WEST-WSBS-CA/MIAMI. For the first quarter, SBS expects radio segment net revenue growth to be in the mid single digit range.

« see more Net News