Colorado Media Newsroom
October 16th, 2023, 06:20 AM
From Radio Insight:
https://radioinsight.com/wp-content/images/2018/05/sbs-200x200.pngSpanish Broadcasting System has filed a lawsuit in Miami
Dade County Circuit Court against Voz Media over the failed sale of its Mega TV for $64 million (https://radioinsight.com/headlines/248620/sbs-sells-its-mega-tv-division/).
SBS had agreed in February to sell Mega TV and stations WSBS-TV Key West, WSBS-CD Miami, WTCV San Juan, and WVOZ-TV Ponce PR in the deal. The company noted that on August 21 it served Voz with a written notice of material breach of the agreement. ?Voz failed to timely respond to the Notice of Breach or otherwise cure the breach. The closing of the transaction was scheduled to take place on September 15, 2023. Voz did not close the transaction, despite the contractual obligation to do so. On September 20, SBS terminated the agreement (https://radioinsight.com/headlines/259179/sbs-terminates-64-million-tv-sale-to-voz-media/).
SBS is alleging that Voz Media breached the parties? agreement by, among other things, failing to timely close. The company also alleges that various individuals ? Defendants
Orlando Salazar, his wife, Janet McClaren Salazar, Pablo Kleinman, and Ryan Morfin ? all conspired to defraud SBS in connection with the failed transaction. SBS is seeking to recover monetary damages as well as its attorneys? fees and costs.
more (https://radioinsight.com/headlines/259994/sbs-sues-voz-media-over-failed-mega-tv-sale/)
https://radioinsight.com/wp-content/images/2018/05/sbs-200x200.pngSpanish Broadcasting System has filed a lawsuit in Miami
Dade County Circuit Court against Voz Media over the failed sale of its Mega TV for $64 million (https://radioinsight.com/headlines/248620/sbs-sells-its-mega-tv-division/).
SBS had agreed in February to sell Mega TV and stations WSBS-TV Key West, WSBS-CD Miami, WTCV San Juan, and WVOZ-TV Ponce PR in the deal. The company noted that on August 21 it served Voz with a written notice of material breach of the agreement. ?Voz failed to timely respond to the Notice of Breach or otherwise cure the breach. The closing of the transaction was scheduled to take place on September 15, 2023. Voz did not close the transaction, despite the contractual obligation to do so. On September 20, SBS terminated the agreement (https://radioinsight.com/headlines/259179/sbs-terminates-64-million-tv-sale-to-voz-media/).
SBS is alleging that Voz Media breached the parties? agreement by, among other things, failing to timely close. The company also alleges that various individuals ? Defendants
Orlando Salazar, his wife, Janet McClaren Salazar, Pablo Kleinman, and Ryan Morfin ? all conspired to defraud SBS in connection with the failed transaction. SBS is seeking to recover monetary damages as well as its attorneys? fees and costs.
more (https://radioinsight.com/headlines/259994/sbs-sues-voz-media-over-failed-mega-tv-sale/)