That outshines the revenue gains for most publicly-traded radio operators, which tend to be reporting flattish revenues. SBS radio revenues increased from $30.5 million to $32 million in the recent third quarter. TV division revenues, while much smaller, grew even more, up 9% to $4.5 million. SBS says the TV gains were due to national spot sales and paid programming. Chairman/CEO Raul Alarcon credits national and network sales for the radio division improvement. San Francisco was the only market not to show growth in national, and Miami was the only market not to do better in network sales.

Spanish Broadcasting System faces a March 13, 2012 deadline from the NASDAQ exchange to get the value of its publicly traded shares above $15 million for at least ten straight days. At yesterday's closing price of $2.11, the market cap was $15.33 million. The SBS stock ("SBSA") had a dramatic jump earlier this week. The company is talking with bankers about refinancing its senior credit facility, and expects to have that done by April 2012. Track the movements of Spanish Broadcasting System stock here.