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Hispanic Broadcasting Shifts to NYSE

Hispanic Broadcasting Shifts to NYSE

Hispanic Broadcasting Corp. is now trading its Class A common stock on the New York Stock Exchange.
Effective May, the largest Spanish-language radio broadcaster in the U.S. is traded on the NYSE with the symbol “HSP.” Previously, HBC traded on the Nasdaq under the symbol “HBCCA.”
“We believe our move to the NYSE could increase liquidity and reduce trading volatility of Hispanic Broadcasting stock,” said HBC CEO McHenry T. Tichenor Jr.
HBC owns or operates 45 radio stations in 12 of the top 15 Hispanic markets in the U.S. and in Las Vegas.
For the first quarter of 2000, HBC reported a net revenue increase of 23.4% to $46.5 million, with broadcast cash flow increasing 23.5% to $16.9 million. The company paid dividends of 26ยข per share for the three-month period ending March 31, 2000.
T. Carter Ross