Spanish Broadcasting System Transitions Puerto Rico TV Ownership to Christian Media Group

Spanish Broadcasting System Sells Puerto Rico TV to Christian Media Group

In a significant strategic move, Spanish Broadcasting System, Inc. (SBS), renowned as the largest minority-owned Hispanic media organization in the United States, has successfully entered into an Asset Purchase Agreement to sell its television stations in Puerto Rico, which include WVEO(DT), WTCV(DT), and WVOZ-TV to the Christian media entity, Word of God Fellowship, Inc., operator of the Daystar Television Network. This transaction underscores SBS's commitment to solidifying its presence in audio and digital media sectors while allowing for enhanced focus on its core business.

The decision to part with these television assets is designed to facilitate SBS's growth and reaffirm its dedication to delivering culturally relevant content primarily through its robust radio and digital platforms. SBS has made a name for itself in the industry, notably with WSKQ-FM, the most listened-to and streamed radio station nationwide, based in New York City. Furthermore, their top-ranking Latino music streaming application, LaMusica, has been pivotal in serving Hispanic audiences across both the U.S. and Puerto Rico.

Raúl Alarcón, the Chairman and CEO of SBS, expressed that this sale is a critical juncture in the company's long-term vision to enhance its core competencies. He emphasized the importance of providing culturally significant content that resonates with millions of Hispanic consumers each day. "This transaction allows us to refine our focus and channel investments to expand our exceptional capabilities," stated Alarcón, highlighting the necessity of evolving with the changing media landscape.

On the other hand, Word of God Fellowship, through its Daystar channel, is honored to extend their faith-centered programming, introducing “Daystar Español” to the Puerto Rican audience via the new acquisition. Joni Lamb, the President and CEO of Daystar, remarked on their mission to serve the local communities by providing uplifting and inspirational content. "We are committed to producing quality television that touches lives, refreshes spirits, and invigorates hearts," said Lamb, emphasizing the network's dedication to enhancing the well-being of Puerto Rico’s viewers.

SBS continues to maintain a strong presence in Puerto Rico with its high-ranking radio stations like Mega 106.9, La Nueva 94, Zeta 93, and Estereotempo 96.5, focusing on delivering premium audio experiences that empower and engage the island's diverse audience.

The transaction was brokered by Greg Guy of Tideline Partners, who represented SBS throughout the process. The sale is set to mark a new chapter for both SBS and Daystar, as they navigate their distinct paths while catering to the varying needs of their audiences.

As SBS strengthens its foothold in radio and digital while relinquishing television broadcast assets, its strategic reassessment reflects a growing trend within the media industry focusing on tailored, compelling content that meets the evolving preferences of audiences today.