Spanish Broadcasting System, Inc. Announces Transfer of Listing to The NASDAQ
MIAMI, May 19, 2014 (GLOBE NEWSWIRE) -- Spanish Broadcasting System, Inc. (the
"Company" or "SBS") (Nasdaq:SBSA) is pleased to announce that, on May 16,
2014, the Company received approval from The Nasdaq Stock Market ("NASDAQ") to
transfer the listing of the Company's common stock from The NASDAQ Capital
Market to The NASDAQ Global Market. The NASDAQ Global Market is one of the
three markets for NASDAQ-listed stocks and operates similarly to The NASDAQ
Capital Market. Companies listed on The NASDAQ Global Market must meet certain
financial requirements and adhere to NASDAQ's corporate governance standards.
The Company's common stock will begin trading on The NASDAQ Global Market at
the opening of business on May 20, 2014. The Company's common stock will
continue to trade under the symbol "SBSA."
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 operates 20 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. 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 owns 21 bilingual websites, including www.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. Forward-looking
statements, which are based upon certain assumptions and describe future
plans, strategies and expectations of the Company, are generally identifiable
by use of the words "may," "will," "expect," "believe," "anticipate,"
"intend," "could," "estimate," "might," or "continue" or the negative or other
variations thereof or comparable terminology. Factors that could cause actual
results, events and developments to differ are included from time to time in
the Company's public reports filed with the Securities and Exchange
Commission. All forward-looking statements made herein are qualified by these
cautionary statements and there can be no assurance that the actual results,
events or developments referenced herein will occur or be realized. The
Company undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of unanticipated
events or changes to future operation results.
CONTACT: Analysts and Investors
Jose I. Molina
Vice President of Finance
Analysts, Investors or Media
Brainerd Communicators, Inc.
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