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SBS Disputes Judge’s Ruling in Clear Channel/HBC Suit

SBS Disputes Judge's Ruling in Clear Channel/HBC Suit

Spanish Broadcasting System said it disagrees with a ruling by a court judge and will appeal.
The owner said the judge in its lawsuit against Clear Channel Communications and Hispanic Broadcasting Corp. granted the defendants’ motion to dismiss.
“The order dismissed SBS’s federal claims with prejudice and SBS’s state claims without prejudice,” the company stated. “We disagree with the order. We will continue to prosecute this case vigorously and have every confidence that SBS’s claims will be reinstated and vindicated upon appeal.”
Last summer, on the heels of an announced acquisition of HBC by Univision, SBS sued HBC and Clear Channel Communications, the largest shareholder in HBC.
SBS alleged that Clear Channel and HBC “adversely affected SBS’ ability to raise capital, depressed SBS’ share price” and made acquisitions more difficult for SBS, according to the suit filed in U.S. District Court for the Southern District of Florida.
SBS alleged that the goal of HBC and Clear Channel was to eliminate SBS as a competitive threat. Clear Channel called the allegations “absurd and unfounded” at that time.