Meanwhile, SBS had started its Los Angeles growth plan with the December 1987 purchase of KSKQ-FM 97.9, which is today KLAX “La Raza.” The cost was $15 million, and allowed SBS to give up the former KSKQ-AM 1540, which it acquired in 1984.
In its home market of Miami, growth came in 1997, when Russ Oasis became a multimillionaire. After buying WXDJ-FM (today WRMA-FM) for $8.1 million in December 1987 and WTPX-FM 106.7 (now WXDJ-FM) in January 1995 for $21.25 million, Oasis and his New Age Broadcasting (including partners Alan and Robert Potamkin) sold the two stations to SBS for $111 million.
This gave SBS a three-FM cluster in Miami, allowing it to part ways with WCMQ-AM 1210.
Then came expansion to Chicago, San Francisco, Puerto Rico and other markets SBS is no longer in, including San Antonio, where it owned KSAH-AM & KLEY-FM.
Today, SBS’s radio stations are among the top-rated Spanish-language radio stations across many of its markets.
At the same time, SBS’s Aire Radio Networks has grown from scratch to an entity sevingmore than 250 affiliates, 17 owned and operated stations, and targeted network vehicles reaching 94% of the U.S. Hispanic audience.
Then there is the Mega TV operation, which many naysayers bemoaned was a money-losing proposition to compete against now-struggling Univision Communications.
With unique programming featuring noted political commentator Jaime Bayly and talk host Oscar Haza, Mega TV airs in 10 markets across the U.S. and has a national feed on DirecTVChannel 405.
Importantly, Mega TV in Q2 saw its net revenue jump 21%, to $3.5 million. Adjusted OIBDA surged by 768%, to $1.09 million.
RBR+TVBR will be in attendance as part of its efforts to bring coverage of Hispanic media to the financial and regulatory community. To learn more about the power of Hispanic media, please visit www.hispanicradioconference.com.