The story
Spanish Broadcasting System was founded by Pablo Raúl Alarcón Sr., who started in Spanish-language radio broadcasting in the early 1950s when he started his first radio station in Camagüey, Cuba, and his son, Raúl Alarcón Jr. Alarcón Sr. had acquired 14 radio stations by the time he fled Cuba with his family to the United States in 1960. In the U.S. he continued his career as an on-air personality at a New York radio station after arriving in the United States before being promoted to programming director. He subsequently owned a recording studio and advertising agency before borrowing US$3.5 million to purchase the first SBS radio station, WSKQ-AM (La Super 1380) in 1983 with his son, Raúl Alarcón Jr. Alarcón Sr. would serve as SBS Chairman of the board of directors, while his son would serve as an account executive in the sales department.
SBS generated sales of about US$20 million in its first year, confirming the influence of the growing Spanish-speaking audience. Raúl Alarcón Jr. became President of SBS and a director in October 1985. In 1988 SBS purchased its first FM station, regional Mexican KLAX 97.9 FM in Los Angeles. The company went public in the fall of 1991, raising US$435.8 million by selling 21.8 million shares at US$20 per share. SBS bought its third station, New York's WSKQ-FM, in 1989. In 1993 Alfredo Alonso was hired and reformatted it as Mega 97.9, La Mega, surpassing the market's longtime leader, the light rock station WLTW-FM, by 1998. A major turning point for Spanish radio occurred that year when media researchers at Arbitron rated La Mega's morning show number one over that of the radio personality Howard Stern.
In 2002 the company created SBS Entertainment, a concert production arm. It also diversified by purchasing 80 percent of JuJu Media, the operator of the Spanish-English Web site LaMusica.com, which offered Latin music, entertainment, news, and culture. Later that year, at the insistence of Alarcón Jr., SBS launched KZAB-FM (La Sabrosa 93.5), targeting the Central American population in Los Angeles. In 2003, WSKQ was the most listened-to Spanish-language radio station in the United States. That year Alarcón Jr. told Billboard magazine, "My opinion is that radio programming continues to be an art. It is not a science. I will not argue with the fact that research gives you a good indication, a good road map."
Raúl Alarcón Jr. is the current chief executive officer of SBS, a position he has held since June 1994. He also succeeded his father as chairman of the board of directors on November 2, 1999. Alarcón Sr. would continue to serve as chairman emeritus. Alarcón Jr. is responsible for the company's long-range strategic planning and operational matters, and according to SBS's website, is instrumental in the acquisition and related financing of each SBS station.
In 2004, Viacom purchased a 10% stake on SBS, Viacom's response to Univision-HBC merger, SBS was combined with Viacom's Infinity Broadcasting.
In 2009, Raúl Alarcón Sr. was posthumously inducted into Billboard's Latin Music Hall of Fame. On June 3, 2011, the heavily Cuban-American community of Union City, New Jersey honored Alarcón Sr. with a star on the Walk of Fame at Celia Cruz Plaza. Raúl Alarcón Jr. was present to accept the honors for his father.
SBS said it would sell Mega TV in 2023 to Voz Media, a conservative Spanish-language news media firm based in Texas, pending approval by the Federal Communications Commission. On September 22, SBS terminated the deal after the buyer breached its agreement to close the deal by the Sept. 15 deadline the two companies agreed to.
In April 2026, SBS filed for prepackaged Chapter 11 bankruptcy protection as part of a restructuring deal with creditors to significantly reduce debt, lowering interest expense, extending the company's maturity notes until 2030, and supported funds via accounts managed by Brigade Capital, Man Group and Bayside Capital.
From Wikipedia’s article on Spanish Broadcasting System, shared under CC BY-SA 4.0.7