The sale will keep the television network in Hispanic hands
Spanish Broadcasting System, Inc. (the “Company” or“SBS”) (OTC Pink: SBSAA) announced today the sale of the Mega TV television network and certain associated assets to Voz Media for a total price of USD $64 million. The transaction is expected to close upon approval by the Federal Communications Commission (FCC).
“I am very proud of the nearly two decades of award-winning programming, community dedication and industry goals accomplished by Mega TV, an operation that has managed to carve out its own unique position among Hispanic viewers in the United States and Puerto Rico,” said Raúl Alarcón, president and CEO of SBS.
“I am pleased to place this asset in the hands of a dedicated Hispanic owner, Orlando Salazar, founder of Voz Media, who will continue the expansion of Mega TV and continue his commitment to serve our nation’s growing Latino population.”
“Voz Media is honored to be selected to continue the work and tradition started by Raúl Alarcón and Mega TV in the Spanish-language media market,” said Orlando Salazar, founder of Voz Media.
“We couldn’t be more proud of the fact that Mega TV’s legacy will continue under the leadership of another Hispanic media company,” added Albert Rodríguez, president and COO of SBS. “Orlando and Voz Media have our full support, and we look forward to working with them throughout this transition.”
Voz Media has offices and studios in Dallas, as well as in Miami and Madrid. Voz Media provides news and alternative content for Latinos in the United States, as well as Latin America, that reflect fundamental Hispanic family values. The company was founded by businessman Orlando Salazar in Dallas, Texas. He was born in Texas whose grandparents were of Mexican descent and is the owner and CEO of Voz Media.