DALLAS, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Voz Media announced today the acquisition of MegaTV business from Spanish Broadcasting System, Inc. (the "Company" or "SBS") (OTC Pink: SBSAA) for a total acquisition price of $64 million USD.
"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 CEO 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 MegaTV and the overriding commitment to faithfully serve our nation's burgeoning Latino population."
"It is an honor for Voz Media to be selected to continue the work and tradition started by Raul Alarcon and MegaTV in the Spanish-language television media market. We take seriously the challenge of moving MegaTV forward in both reach and content as we continue to serve Spanish speakers across the United States," said Orlando Salazar, CEO of Voz Media.
"We couldn't be prouder of the fact that the legacy of MegaTV will continue under the leadership of another Hispanic-Owned media company," said Albert Rodriguez, COO/President of Spanish Broadcasting System. "Orlando Salazar and the Voz Media team have our undivided support, and we look forward to working with them throughout this transition and beyond."
About Voz Media, Inc.
Voz Media is a Spanish-language news channel located in Dallas, Texas, with offices in Madrid, Spain, and Miami, Florida. It was founded in January 2022 by businessman Orlando Salazar, a native Texan of Mexican descent. The channel programming is aimed at the Hispanic public and provides a fresh, new, alternative point of view for news. In the following months, Voz Media will launch its streaming platform, which will include series, documentaries, movies, and sitcoms. You can find their content on www.voz.us, their mobile app, and social media (Facebook, Instagram, Twitter, TikTok, and YouTube).
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets, 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 MegaTV, 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 new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.
Contact Information:
José I Molina
Chief Financial Oficer
(305) 441 6901
Brad Edwards
The Plunkett Group
(914) 582 4187
Pablo Kleinman
Chief Operating Officer
pk@vozmedia.com
Related Files
Voz Media-MegaTV Press Release.docx
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