After its $64 million sale of its television division collapsed in 2023, Spanish Broadcasting System has found a buyer for its television stations in Puerto Rico.
SBS will sell WTCV San Juan, WVEO Aguadilla and WVOZ-TV Ponce to Word of God Fellowship for $6.5 million. The buyer will utilize the stations for its “Daystar Español” network. SBS notes that the deal “reinforces SBS’s focus on its core audio and digital businesses, continuing SBS’s industry-leading radio portfolio dominance along with its digital platforms in further serving and empowering Hispanic audiences across the US and Puerto Rico footprints.”
SBS Chairman/CEO Raúl Alarcón said, “This transaction is a decisive step in our long-term strategy of expanding our core competency—delivering culturally resonant content through radio and digital channels that connect, entertain, and inform millions of Hispanics every day. This sale allows us to sharpen that focus and invest in our growth with unmatched expertise.”
SBS had previously agreed to sell those stations along with television stations in Key West and Miami and the ‘Mega TV” network to Voz Media in February 2023 for $64 million. That deal would not close and lead to SBS suing the buyer before agreeing to an undisclosed financial settlement in March 2024.
Greg Guy of Tideline Partners served as the exclusive broker representing SBS in this transaction.
