SBS, Infinity Close on San Fran Purchase That Launched Partnership

Spanish Broadcasting System has closed on its purchase of KRZZ(FM) in San Francisco from Infinity Broadcasting, a deal announced earlier in the fall.
SBS has re-formatted the station to Spanish-language.
SBS, CBS Television and Viacom Outdoor also have agreed to cross-promote their properties. Infinity Solutions and Beyond, Infinity’s marketing and sales group, will partner with SBS.
The sale involved the change of call letters from KBAA to KRZZ in November. FCC records indicate that the station has had quite a few over 18 years, also including KYA, KLHT, KYCY, KKWV and KBAY.
SBS CEO Raúl Alarcón stated the alliance is a partnership across media platforms and targeting U.S. Hispanics. Under the terms of what they are calling a strategic alliance, KRZZ was merged into SBS in exchange for a roughly 10 percent equity stake in SBS for Infinity, which received warrants that will allow it to increase its stake by another 5 percent.