SBS Says Q3 Net Revenue Up 15%

Spanish Broadcasting System said its net revenue was up 15% in the recent financial quarter, to $41.1 million, compared to last year’s quarter.
It said this exceeds its previous predictions of mid-single digit revenue growth. SBS said the growth is mostly attributable to sales performance in Miami and New York.
Year-to-date, SBS has net revenue of $110.7 million, up 10% in Q3 2003.
CEO Raúl Alarcón Jr. noted that through a partnership with Viacom announced last month, SBS is acquiring a full-power station covering the San Francisco and San Jose markets. The groups announced what they called the “single most powerful Spanish-language radio station in the Bay area” under a deal that involves Viacom and SBS working together to target Hispanic consumers. Viacom’s Infinity will merge KBAA into SBS in exchange for a 10% equity interest in SBS.