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Items Tagged With: “Spanish Broadcasting System”
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Spanish Broadcasting System releases preliminary results for Q4 2011
SBS reports that radio/TV net revenues were ahead at least 7.5%, and perhaps as much as 9%. The company is still calculating the final fourth quarter and full-year results, but CEO Raul Alarcon wants to get a message out.
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Spanish Broadcasting System radio revenues up 5% for the quarter
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.
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Miami's WXDJ goes with "The King of the Mornings"
Singer Rey Ruiz is the new morning host of Spanish Broadcasting System's WXDJ-FM "El Zol" (95.7). SBS EVP/Programming Jesus Salas says, "Signing Rey Ruiz is very much in line with our strategy of delivering the biggest stars and the best content possible.
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Cumulus replaces L.A GMs, installs Marko Radlovic at talk KABC/classic rock KLOS
A week after Marko Radlovic resigned as L.A. market manager and corporate Chief Revenue Officer for Spanish Broadcasting System, he is announced as the new Los Angeles manager for Cumulus.
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At Spanish Broadcasting System, Marko Radlovic leaves as Chief Revenue Officer
Radlovic was also serving as Senior VP of the two SBS stations in the Los Angeles market: regional Mexican "La Raza" KLAX (97.9) and Spanish reggaeton/hip-hop "Latino 96.3" KXOL-FM. Radlovic had served SBS in several capacities over the years and at one point had relocated from Los Angeles to SBS corporate offices in the Miami area.
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Spanish Broadcasting System shareholder wants it to spin off Mega TV
David Tomasello-led Attiva Capital tells the SEC it "is currently in discussion with other shareholders of SBS...on the idea that the company should separate (spin off) the Mega TV and Mega Films franchises by selling its majority stake to a bigger media company that has the financial resources, the content and distribution network required to make…
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Radio revenues down 2% at Spanish Broadcasting System
The SBS TV division revenues gained 10%, but that operation is still much smaller than the radio division the company was founded on. For second quarter, SBS radio revenues dipped from $31.8 million to $31.2 million.
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Radio stocks get slammed on Wall Street
Much like the rest of Wall Street, radio stocks were hardly spared on Monday. The selloff hit Sirius XM (SIRI) worst, losing 12.7% and falling below $2 to $1.65.
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Spanish Broadcasting System is back in compliance with NASDAQ
SBS was facing the potential of being delisted from the NASDAQ exchange, after its stock price fell below the $1.00 line. Shareholders agreed to a one-for-ten reverse stock split, which raised the stock price from below $1 to above $4, in a move that became effective July 12.
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Spanish Broadcasting System Goes For the 1-for-10 Reverse Stock Split
On June 1, SBS won stockholder authorization to repair a sagging share price by engineering a reverse split of somewhere between 1-for-5 and 1-for-10. Today CEO Raul Alarcon reveals that the Miami-based company is choosing the option that would create the highest potential price, post-split.
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Spanish Broadcasting System revenues drop 2%
Revenue improved 15% at the still-growing Mega TV division, though it shows an operating loss of $1.8 million. On the much bigger radio side, New York and Miami suffered decreases in local revenues.
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Spanish Broadcasting System pays $16 million for a TV station in Houston
Interestingly, SBS, founded as a radio group, does not own any radio stations in Houston. But five years ago CEO Raul Alarcon's company began a Miami-based TV production house named Mega TV.
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Miami's "La Raza 106.3" gives way to a Central American-focused "Cima"
Spanish Broadcasting System flipped then-romantica WZMQ to a regional Mexican format in January 2008, but now gives up that format to focus on fans of the cumbia and vallenato music that's derived from the music of Colombia. SBS has used the "Cima" name - it means "Peak" - in Puerto Rico, and and decides to try it in South Florida. Read More
SBS CEO Raul Alarcon sees yearly pay drop from $2.5M to $2M
From today's TRI Newsletter: The Spanish Broadcasting System board raised Alarcon's base salary from $1 million to $1,250,000 in 2007 and it’s stayed there, despite the economy and the stock-price woes of SBS. But Alarcon actually has been making less money than he used to, in total compensation.
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To prevent de-listing, Spanish Broadcasting System proposes reverse stock split
The SBS annual proxy statement asks shareholders for approval of a reverse stock split of both Class A and Class B stock "of not less than 1-for-5 and not more than 1-for-10." The Board of directors would have discretion about the exact split, which would lift the price of "SBSA" safely above the $1 minimum required by NASDAQ. Miami-based Spanish B…
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Spanish Broadcasting System faces a de-listing hearing from NASDAQ
As it is now, SBS stock ("SBSA") faces de-listing from the stock exchange "at the opening of business on Thursday, April 21." The problem is the stock trading price. Miami-based SBS first got a de-listing notice last October, when it was given 180 days to cure the problem by keeping the closing price above $1 a share for ten consecutive trading day…
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SBS retains Lazard Freres to advise on "potential strategic transactions"
Spanish Broadcasting System reveals in its SEC filing that it retained the services of Lazard on January 21. Among the possibilities: refinancing its First Lien Credit Facility due in June 2012. Read More
Spanish Broadcasting System reports 5% lower revenues from radio
The fourth quarter report shows SBS with radio revenues declining $1.5 million from the previous year, with the culprits being national sales and special events. SBS CEO Raul Alarcon says the decrease in national sales was prevalent in all markets except San Francisco and Puerto Rico. Read More
Making Moves: Tuesday, March 15, 2011
Spanish Broadcasting System names Donny Hudson as VP of Sales for SBS Radio/TV/Digital and Entertainment ... John Bowhuis succeeds Steve Davis as Clear Channel’s market manager for Harrisonburg, Virginia, overseeing CHR WAZR-FM “Alice" (93.7) & Country WKCY-FM (104.3) ...
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"You Fell for It" bit costs Spanish Broadcasting System a $25,000 FCC fine
The phone scams themselves happened nearly five years ago (April 2006) and weren't the subject of complaints to the FCC until October 2010. WZNT, San Juan, Puerto Rico owner SBS says it doesn't have tapes of the incidents, but the FCC relies on "the complainant's reasonably detailed description of what took place." One of the scams involving the "E… Read More
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