SBS Seeks Another Chance For Lawsuit

Spanish Broadcasting System, Inc. has asked a federal court to overturn a previous decision dismissing SBS’ antitrust lawsuit against Clear Channel Communications, Inc. and Hispanic Broadcasting Corporation. SBS also asked the court for permission to file a proposed second amended complaint that was sealed, because it is based on documents received from the defendants in connection with discovery and the deposition testimony of Randall Mays, Lowry Mays and Jeffrey Hinson. Randall Mays and Lowry Mays are Chief Financial Officer and Chairman and Chief Executive Officer of Clear Channel, respsectively, and Jeffrey Hinson is CFO of Hispanic Broadcasting.
The court dismissed SBS’ allegations against Clear Channel and HBC on Jan. 31. SBS had stated both companies tried to destroy its ability to compete and lower its stock price. SBS owns and/or operates 27 stations in seven of the top-ten U.S. Hispanic markets.