Latin

SBS Secures Over $300 Million for Recapitalization

Raúl Alarcón Jr.
Ryan Stone

“We have 35 years of market knowledge and are able to surgically program to the multiple Latino communities,” says Alarcón, photographed July 13 at his home in Coral Gables. “We stay ahead of the trends. Sometimes we’re caught by surprise, but not often.”

Latin media giant Spanish Broadcasting System (SBS) announced today (Feb. 18) that it has finally completed its longstanding recapitalization.

The process includes the closing of a Feb. 12 offering of $310 million in aggregate principal amount of its senior secured notes, due in 2026.

SBS' holdings include the SBS radio network, which has some of the leading Spanish language stations in the United States and Puerto Rico, including top-rated La Mega in New York City, the most-listened to Spanish language radio station the country, according to Nielsen.

SBS also owns television network MegaTV and music app LaMusica. Recapitalization, says SBS chairman and CEO Raúl Alarcón, will allow the brand to continue expanding, including acquisition of properties and talent as well as audience growth.

"Our commitment to the Hispanic market remains, as it has for nearly four decades, unwavering," said Alarcón in a statement, referring to the company founded by his father, a Cuban immigrant.

"We will continue serving Hispanics nationwide - as well as the advertisers that target their dynamic purchasing power and growing social, cultural and political influence."