MIAMI—Spanish Broadcasting System has 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 Raúl Alarcón, chairman and CEO 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,” he continued. “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 Raúl Alarcón 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."
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.
