HISPANIC AUDIO LEADERS SBS, PRISA and CARACOL RADIO ANNOUNCE GLOBAL PARTNERSHIP TO EXPAND U.S. MEDIA FOOTPRINT

ALLIANCE WILL TARGET GROWING $4 TRILLION U.S. HISPANIC MARKET

Debut of Major Market FM Formats and Live/On Demand Streaming on LaMusica App

Broadcasting System (“SBS”), the leading Latino radio owner/operator in the U.S., Prisa Media (“PRISA”), the world’s largest Hispanic Audio/Digital enterprise and Caracol Radio (“CARACOL”), Prisa’s flagship radio network in Colombia, announced today that they have joined forces to launch, operate, distribute and monetize a slate of new audio stations and live and on-demand streaming content and networks, including an award-winning roster of syndicated talent, targeting the growing $4 Trillion U.S. Hispanic market.

The Partnership officially launched its U.S. operations yesterday with the on-air debut of Caracol Radio America, serving the Hispanic listeners of South Florida on WRAZ 106.3 FM and full digital Live/On Demand streaming on the LaMusica mobile app and affiliated online platforms.

Caracol Radio America will feature a LIVE 24/7 on air/stream of the best in news, sports and music, including award-winning personalities and celebrities from around the Spanish-speaking world.

Statement of SBS Chairman Raúl Alarcón

“In order to succeed in today’s world of competitive media, a winning alliance requires the participation of partners with the expertise to efficiently showcase an unending flow of “unskippable” content that will captivate audiences and marketers alike. This consortium fills that requirement – and SBS enthusiastically looks forward to joining forces with PRISA, a global powerhouse in audio, and CARACOL, Colombia’s premier radio network, in forging a bold and transformative media platform in the United States – and beyond,” stated Mr. Alarcón.

Statement of Vice Chairwoman of PRISA/CEO of Prisa Media Pilar Gil

“PRISA and SBS share a historical radio legacy as well as an unwavering commitment to the future of audio/digital entertainment for an audience of over 600 million people that make Spanish the second-most-spoken language on Earth,” commented Ms. Gil.

“The partners are thus uniquely positioned to capitalize on this unprecedented growth opportunity – which can only increase over time in lockstep with the proliferation of Hispanic audiences throughout America and, indeed, the world,” she added.

Statement of PRISA Media America CEO Felipe Cabrales

“This compelling partnership pairs PRISA’s global Spanish-language leadership with SBS’s preeminence in U.S. Hispanic audio. Together, our companies will accelerate content innovation, deepen advertiser solutions, and expand the digital distribution of the world’s most dynamic Spanish-language content,” commented Mr. Cabrales.

While the Partnership’s initial target is the U.S. Hispanic consumer, the parties recognize a first-mover opportunity to create a global Spanish-language digital runway, connecting diverse content centers across the United States, Mexico, Colombia, Latin America and Iberia: the first truly live, multigeneric Spanish-language content destination.