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Issued : Friday, March 30, 2012 10:37 AM
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PR remains a bright spot for SBS

By CB Online Staff

The Puerto Rico market remains a bright spot for Spanish Broadcasting System as the largest publicly traded Hispanic-controlled media and entertainment company in the U.S. posted its fourth quarter and full-year 2011 results on Friday.

For the quarter ended Dec. 31, 2011, consolidated net revenue totaled $38.2 million compared to $34.9 million for the same prior year period, resulting in an increase of $3.3 million or 9%.

Consolidated net revenue totaled $141.0 million in 2011 compared to $136.1 million for 2010, resulting in an increase of $4.9 million or 3.6%.

“We made significant progress during 2011 in executing our plan and advancing our financial performance,” said Chairman & CEO Raul Alarcón Jr. “Our results reflect the improving advertising climate and the strength of our diversified media assets in reaching the fast-growing Hispanic audience.”

Alarcón expressed confidence moving forward.

“Given the positioning of our assets in the nation’s largest Hispanic markets and the ongoing robust growth of the Spanish speaking population, we remain very optimistic about our long-term outlook given the increasing need for advertisers to reach our audience.”

SBS owns and/or operates 21 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico. The company also owns and operates MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico.

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