Spanish Broadcasting System Sells Mega TV Network to Voz Media – Billboard
Written by GRB on 13/02/2023
Spanish Broadcasting System (SBS) has sold its Spanish-language network Mega TV to Voz Media for $64 million, the company announced Monday (Feb. 13). The sale, which includes associated real estate, preserves the Hispanic ownership of Mega TV, which targets Spanish-speaking Latinos in the U.S. and Puerto Rico.
The purchase must still be approved by the Federal Communications Commission (FCC).
Founded in 1983, SBS is a Spanish-language media company that owns and operates radio stations in the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano formats. It also operates AIRE Radio Networks, a national radio platform that boasts more than 290 affiliated stations reaching 95% of the U.S. Hispanic audience, according to the company. SBS went public in 1999.
Miami-based Mega TV — a staple in Hispanic television that boasts over-the-air, cable and satellite distribution in Puerto Rico and multiple affiliates throughout the mainland U.S. — airs around three dozen original programs, including Bayly, Dante Night Show, Mega Noticiero, La Corte del Pueblo, Latin Angels and Mega Kids.
“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,” said SBS chairman/CEO Raúl Alarcón in a statement.
Alarcón continued: “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.”
Voz Media was founded in 2022 by CEO Orlando Salazar in Dallas, with headquarters in Las Colinas, Tex. The company, which provides “alternative news and content for Latinos,” is planning a slate of original series and films “that reflect the core Hispanic values of hard work, faith and commitment to family” for its streaming platform targeted at the U.S. Spanish-speaking market and Latin America, according to a press release. The company also has offices in Miami and Madrid.
“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,” added Salazar. “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.”
SBS president/COO Albert Rodriguez added, “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. Orlando and the Voz Media team have our unqualified support and we look forward to working with them throughout this transition and beyond.”