Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Spanish Broadcasting System history
Spanish Broadcasting System company history timeline
Spanish Broadcasting was founded in 1983 when Cuban emigree Pablo Raul Alarcon acquired an AM radio station in New York City.
1986: Heftel acquires KLVE-FM in Los Angeles.
The company's revenues by the end of 1988 had reached $21.1 million, and its network consisted of six stations.
In February of 1989, Spanish Broadcasting acquired WEVD-FM, another radio station serving New York.
By 1989, Alarcon had built SBS into the largest Hispanic radio company in the United States.
1990--93: Recession Forces Adjustments but Does Not Halt Expansion
Both of the Hawaii stations were sold in 1990 to allow the company to focus on its mainland stations in Los Angeles and other media-related ventures in Los Angeles and Miami.
1990: Heftel sells its two Hawaii radio stations.
The broadcasting industry hit some hard times during the recession of the early 1990s. For example, in 1991 it negotiated a deal with Telemundo Group, a Florida-based television broadcaster, under which SBS leased transponder space from Telemundo for satellite broadcasts of news, primarily originating in Miami, to the company's stations and other affiliates.
In Los Angeles, in Arbitron's fall 1992 fall survey, SBS's KLAX-FM was named the top-ranked radio station in the area.
1992: Heftel Broadcasting Corporation is incorporated in Delaware.
By 1993, SBS's stations numbered seven: KLAX-FM and KXED-AM in Los Angeles; WSKQ-AM and WSKQ-FM in New York; and WCMQ-AM, WCMQ-FM, and WZMQ-FM in the Miami-Florida Keys area.
In 1993 Heftel announced plans to merge with the Spanish Radio Network to create the largest Spanish-language radio company in the United States.
In 1994, on the eve of some important changes for the company, Pablo Raul Alarcon, Sr., turned over operational control of SBS to his son, Raul Alarcon, Jr.
Spanish Broadcasting incorporated in 1994.
In mid-1994 Heftel announced plans to expand and become the largest radio station group of Hispanic formatted stations in the United States.
In fiscal 1995, SBS's revenues reached $55 million, giving the company some investment clout and furthering its investment plans.
SBS also benefitted from the fact that by 1995 Hispanic purchasing power had climbed to $220.3 billion, encouraging a rapid rise in media advertising to that population segment.
The New York-based LaMusica.com, created in 1995, offered a wide variety of content, including concert listings, an international club directory, articles on popular Latin personalities, reviews of CDS, and record charts.
By spring 1995 it was the city's top-ranked radio station.
1996: With the help of Clear Channel, Heftel merges with Tichenor Media System Inc. to become the largest radio broadcaster to the Hispanic market.
The merger between Tichenor and Heftel was completed in February 1997, leaving Clear Channel with about 43 percent ownership of the new company.
The station was acquired for $102.5 million and the format changed in February 1997.
haley, kathy. "radio rides hispanic population boom; stations moving into listener mainstream as ratings grow." broadcasting & cable, 6 october 1997.
1997: SBS moves headquarters from New York to Miami.
In March 1998 Heftel announced that it would acquire KKPN-FM of Houston for $54 million from SFX Broadcasting and change the programming to a Spanish-language format.
Collectively, in 1998 these stations ranked first in audience and sales in the Puerto Rico market.
1999: Raul Alarcon, Jr., succeeds his father as SBS's chairman; company buys 80 percent of New York-based LaMusica.com and recapitalizes.
For 1999 HBC's Los Angeles stations accounted for 43.4 percent of the company's broadcast cash flow.
bachman, katy. "sbs expands west." mediaweek, 22 may 2000.
In May 2000 HBC stock moved from the NASDAQ to the New York Stock Exchange, in part to increase its visibility and investor base and reduce trading volatility.
In May 2000 HBC announced that Prodigy would become the exclusive co-branded Internet service provider (ISP) for the company and its 45 Spanish-language radio stations. It became the preferred ISP on HBC's stations and web sites in the first half of 2000.
Stock prices, which had jumped to $27.75 immediately following the IPO, fell to a low of $4.95 per share in September of 2001 after a sluggish North American economy prompted companies in nearly every industry to trim their advertising budgets.
Performed in the Music Square Garden in December of 2001, the concert raised roughly $400,000.
Although sales grew nearly 10 percent in 2001 to $134.3 million, Spanish Broadcasting posted a $7.6 million loss that year.
spanish broadcasting system, inc. home page, 2002. available at http://www.lamusica.com.
The acquisition would, in brief, be a risky venture, one that would involve deficit operating until at least 2003, but one that SBS believed would also greatly enhance the company's competitive presence in the number one Hispanic radio market in the United States.
Rate how well Spanish Broadcasting System lives up to its initial vision.
Spanish Broadcasting System jobs
Do you work at Spanish Broadcasting System?
Is Spanish Broadcasting System's vision a big part of strategic planning?
Spanish Broadcasting System competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Saga Communications | 1986 | $112.9M | 687 | 18 |
| Radio Free Europe/Radio Liberty | 1976 | $220.0M | 750 | - |
| Journal Broadcast Group | - | $800.0M | 3,000 | - |
| Wilks Broadcasting | - | $8.1M | 90 | - |
| Salem Media Group | 1986 | $262.8M | 1,173 | 26 |
| TeleRep | 1968 | $180.0M | 600 | - |
| Beasley Media Group | 1961 | $240.3M | 748 | 52 |
| Univision Communications | 1962 | $270.0M | 1,108 | 161 |
| Cumulus Media | 1998 | $827.1M | 3,646 | 146 |
| Citadel Broadcasting | 1984 | $719.8M | 4,100 | - |
Spanish Broadcasting System history FAQs
Zippia gives an in-depth look into the details of Spanish Broadcasting System, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Spanish Broadcasting System. The employee data is based on information from people who have self-reported their past or current employments at Spanish Broadcasting System. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Spanish Broadcasting System. The data presented on this page does not represent the view of Spanish Broadcasting System and its employees or that of Zippia.
Spanish Broadcasting System may also be known as or be related to Spanish Broadcasting System, Spanish Broadcasting System Inc. and Spanish Broadcasting System Inc.