Spanish Broadcasting System, Inc. promotes Richard D. Lara to Chief Operating Officer to Advance Strategic Execution and Operational Efficiency and continues as General Counsel

Spanish Broadcasting System announced the previously reported promotion of Richard D. Lara to Chief Operating Officer. Mr. Lara will also continue to serve as General Counsel.

This leadership appointment reflects the Company’s continued focus on operational efficiency, disciplined execution, and strengthening its long-term strategic and financial position. The Company previously announced its entry into an agreement with the majority of its senior secured debt holders to implement a comprehensive balance sheet restructuring, which is intended to strengthen the Company’s financial flexibility.

As Chief Operating Officer, Mr. Lara will oversee day-to-day operations and drive enterprise-wide coordination across the Company’s radio, digital, and experiential platforms, with a focus on enhancing performance, optimizing costs, and supporting ongoing strategic initiatives.

“Richard has been a steady and trusted leader during an important period for the Company,” said Raul A. Alarcon, Jr., Chairman and Chief Executive Officer of the Company. Mr. Lara said, “I am honored to take on this expanded role. We are focused on alignment across the organization and strengthening our platforms to position the Company for long-term success.”

Since joining the Company in 2016, Mr. Lara has led the Company’s legal, regulatory, and governance functions and has played a key role in advancing strategic initiatives.