SBS Settles its Tortious Interference Lawsuit

LOS ANGELES, Jan. 12, 2018 — Spanish Broadcasting System (“SBS”) (OTCQX: SBSAA) today announced that it had reached an agreement with Grupo Radio Centro (“Grupo”) to settle the parties' long-standing lawsuit. SBS filed a multi-million dollar lawsuit in February of 2016 immediately after Grupo hired an on-air radio personality from SBS's KLAX-FM in Los Angeles, alleging tortious interference and unfair competition.

The settlement, the terms of which cannot be disclosed as they are protected by a confidentiality provision, was reached in advance of the upcoming trial. The settlement resolves all pending legal proceedings between the parties.

“We are extremely pleased to have amicably resolved the matter,” stated SBS General Counsel Richard Lara. “As has always been its practice, SBS will not hesitate to take legal action when necessary to defend its contractual rights and business interests,” he added.

SBS owns and operates Hispanic-formatted KLAX-FM and KXOL-FM in the Los Angeles market, two of the highest-rated radio stations in Southern California.

About Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 300 affiliated stations reaching 94% of the U.S. Hispanic audience. SBS also owns MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and owns multiple bilingual websites, including www.LaMusica.com, an online destination and mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com.

MEDIA CONTACT FOR SBS:
Vladimir Gomez
[email protected]
(786) 470-1644
Brad Edwards
[email protected]

Cision View original content:http://www.prnewswire.com/news-releases/sbs-settles-its-tortious-interference-lawsuit-300582270.html

SOURCE Spanish Broadcasting System, Inc. (SBS)

Related Links

http://www.spanishbroadcasting.com

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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