Spanish Broadcasting System to receive Multimillion Dollar settlement from Voz Media

Spanish Broadcasting System, Inc. (“SBS” or “the Company”) (OTC Pink: SBSAA) announced that it had reached a multimillion dollar out-of-court settlement with VOZ Media regarding VOZ’s default of its $64 Million acquisition of the SBS Mega TV division.

The amount of the settlement was not disclosed. The settlement is in addition to a $3.8 Million deposit SBS had previously retained after VOZ failed to close on the TV transaction in 2023.

An SBS spokesperson stated that the Company was pleased with the out-of-court settlement and the outcome of the litigation.