Spanish Broadcasting System, Inc. Regains Compliance With NASDAQ Minimum Bid Price Rule
August 01 2011 - 4:00PM
Spanish Broadcasting System, Inc. ("SBS" or the "Company")
(Nasdaq:SBSAD) announced today that it has been informed by The
NASDAQ Stock Market that it is in compliance with the $1.00 minimum
closing bid price requirement for continued listing on The NASDAQ
Global Market.
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. is the largest publicly traded
Hispanic-controlled media and entertainment company in the United
States. SBS owns and/or operates 21 radio stations located in the
top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago,
San Francisco and Puerto Rico, airing the Tropical, Mexican
Regional, Spanish Adult Contemporary and Hurban format genres. SBS
operates 3 of the top 6 Spanish-language stations in the nation
including the #1 Spanish station in America, WSKQ-FM in New York
City. The Company also owns and operates 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 operates LaMusica.com, a bilingual
Spanish-English online site providing content related to Latin
music, entertainment, news and culture. The Company's corporate Web
site can be accessed at www.spanishbroadcasting.com.
This press release contains certain forward-looking statements.
These forward-looking statements, which are included in accordance
with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, may involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this press release. Although the
Company believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that actual results will not differ materially from these
expectations, and the Company disclaims any duty to update any
forward-looking statements made by the Company. From time to time,
these risks, uncertainties and other factors are discussed in the
Company's filings with the Securities and Exchange Commission.
CONTACT: Analysts and Investors
Joseph A. Garcia
Chief Financial Officer,
Chief Administrative Officer,
Senior Executive Vice President
and Secretary
(305) 441-6901
Analysts, Investors or Media
Brad Edwards
Brainerd Communicators, Inc.
(212) 986-6667
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