Viacom, SBS Now Chasing Spanish Market Together; San Fran Station Sold - Radio World

Viacom, SBS Now Chasing Spanish Market Together; San Fran Station Sold

Viacom, SBS Now Chasing Spanish Market Together; San Fran Station Sold
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The "single most powerful Spanish-language radio station in the Bay area" would be created under a deal that also involves Viacom and SBS working together to target Hispanic consumers. Terms were not disclosed.
Executives Leslie Moonves of Viacom and Raúl Alarcón of Spanish Broadcasting System announced the deal in which Viacom's Infinity will merge KBAA, 93.3 FM in the San Francisco market, into SBS in exchange for a 10% equity interest in SBS. Infinity also gets warrants that will let it increase its stake in SBS by another 5%.
The deal requires regulatory approval. Terms of the agreement were not disclosed.
Moonves said Viacom "has been carefully monitoring the progress and expansion of the domestic Hispanic market and we believe that a great opportunity exists for our deeper involvement."
SBS will also be working on projects with CBS, Viacom Outdoor and Infinity's in-house marketing group.

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