Colorado Media Newsroom
February 13th, 2023, 07:50 AM
From Radio Insight:
https://i0.wp.com/radioinsight.com/wp-content/images/2021/06/sbs.png?resize=200%2C200&ssl=1Spanish Broadcasting System is exiting the television business with the sale of its “Mega TV (https://mega.tv)” network to Voz Media for $64 million pending FCC approval.
SBS launched Mega TV in 2006 and has owned and operated stations WSBS-TV Key West, WSBS-CD Miami, WTCV San Juan, and WVOZ-TV Ponce PR. SBS had sold their Houston station to TEGNA in 2020 for $15 million.
Orlando Salazar’s Voz Media (https://voz.us) describes itself as producing “daily news content and will soon produce family viewing content in the form of series, documentaries, movies and sitcoms on its streaming platform in the months to come.”
Spanish Broadcasting System, Inc. (the “Company” or “SBS”) today announced the sale of its Mega TV business and certain associated real estate to Voz Media for a total acquisition price of $64 Million. The transaction is expected to close upon Federal Communications Commission (FCC) approval.
“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 Ra?l Alarc?n, Chairman and Chief Executive Officer 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 Mega TV and honor its unwavering commitment to faithfully serve our nation’s burgeoning Latino population. Minority ownership of the media, and the opportunities it affords to our nation’s fastest-growing constituency, is a critical component in guaranteeing a stable, profitable and promising future for America.”
“It is an honor for Voz Media to be selected to continue the work and tradition started by Ra?l Alarc?n and Mega TV in the Spanish language television media market,” stated Orlando Salazar, founder of Voz Media. “We take seriously the challenge of moving Mega TV forward in both reach and content, as we continue to serve Spanish speakers across the United States.”
“We couldn’t be more proud of the fact that the legacy of Mega TV will continue under the leadership of another Hispanic-owned media company,” added Albert Rodriguez, President and Chief Operating Officer of SBS. “Orlando and the Voz Media team have our unqualified support and we look forward to working with them throughout this transition and beyond.”
Voz Media currently has offices and studios in Dallas as well as in Miami and Madrid. Voz Media provides alternative news and content for Latinos in the U.S., as well as Latin America, that reflect the core Hispanic values of hard work, faith and commitment to family.
more (https://radioinsight.com/headlines/248620/sbs-sells-its-mega-tv-division/)
https://i0.wp.com/radioinsight.com/wp-content/images/2021/06/sbs.png?resize=200%2C200&ssl=1Spanish Broadcasting System is exiting the television business with the sale of its “Mega TV (https://mega.tv)” network to Voz Media for $64 million pending FCC approval.
SBS launched Mega TV in 2006 and has owned and operated stations WSBS-TV Key West, WSBS-CD Miami, WTCV San Juan, and WVOZ-TV Ponce PR. SBS had sold their Houston station to TEGNA in 2020 for $15 million.
Orlando Salazar’s Voz Media (https://voz.us) describes itself as producing “daily news content and will soon produce family viewing content in the form of series, documentaries, movies and sitcoms on its streaming platform in the months to come.”
Spanish Broadcasting System, Inc. (the “Company” or “SBS”) today announced the sale of its Mega TV business and certain associated real estate to Voz Media for a total acquisition price of $64 Million. The transaction is expected to close upon Federal Communications Commission (FCC) approval.
“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 Ra?l Alarc?n, Chairman and Chief Executive Officer 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 Mega TV and honor its unwavering commitment to faithfully serve our nation’s burgeoning Latino population. Minority ownership of the media, and the opportunities it affords to our nation’s fastest-growing constituency, is a critical component in guaranteeing a stable, profitable and promising future for America.”
“It is an honor for Voz Media to be selected to continue the work and tradition started by Ra?l Alarc?n and Mega TV in the Spanish language television media market,” stated Orlando Salazar, founder of Voz Media. “We take seriously the challenge of moving Mega TV forward in both reach and content, as we continue to serve Spanish speakers across the United States.”
“We couldn’t be more proud of the fact that the legacy of Mega TV will continue under the leadership of another Hispanic-owned media company,” added Albert Rodriguez, President and Chief Operating Officer of SBS. “Orlando and the Voz Media team have our unqualified support and we look forward to working with them throughout this transition and beyond.”
Voz Media currently has offices and studios in Dallas as well as in Miami and Madrid. Voz Media provides alternative news and content for Latinos in the U.S., as well as Latin America, that reflect the core Hispanic values of hard work, faith and commitment to family.
more (https://radioinsight.com/headlines/248620/sbs-sells-its-mega-tv-division/)