Spanish Broadcasting System to Reschedule Fourth Quarter and Full Year 2013 Release and Conference Call
01 April 2014 - 7:25AM
Spanish Broadcasting System, Inc. (Nasdaq:SBSA) (the "Company")
today announced plans to file a Form 12b-25 with the Securities and
Exchange Commission to obtain additional time within which to file
its annual report on Form 10-K for the year ended December 31,
2013. The Company is unable to file its Form 10-K prior to the
filing deadline without unreasonable effort or expense due to
unanticipated delays in resolving the accounting treatment of
certain deferred tax assets. The Company expects to file the Form
10-K within the 15 day extension period, on or before April 15,
2014.
As a result, the Company will reschedule its fourth quarter and
full year 2013 earnings release originally scheduled for after the
market close on Monday, March 31, 2014 and its conference call
originally scheduled for the morning of April 1, 2014. The Company
will notify the investment community of the revised date and time
for the rescheduled release and conference call.
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. is the largest publicly traded
Hispanic-controlled media and entertainment company in the United
States. SBS owns and operates 20 radio stations located in the top
U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San
Francisco and Puerto Rico, airing the Tropical, Mexican Regional,
Spanish Adult Contemporary and Hurban format genres. The Company
also owns and operates MegaTV, a television operation with
over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico. SBS also produces live
concerts and events and owns 21 bilingual websites, including
www.LaMusica.com, a bilingual Spanish-English online site providing
content related to Latin music, entertainment, news and culture.
The Company's corporate Web site can be accessed at
www.spanishbroadcasting.com.
This press release contains certain forward-looking statements.
These forward-looking statements, which are included in accordance
with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, may involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this press release. Although the
Company believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that actual results will not differ materially from these
expectations. Forward-looking statements, which are based upon
certain assumptions and describe future plans, strategies and
expectations of the Company, are generally identifiable by use of
the words "may," "will," "expect," "believe," "anticipate,"
"intend," "could," "estimate," "might," or "continue" or the
negative or other variations thereof or comparable terminology.
Factors that could cause actual results, events and developments to
differ are included from time to time in the Company's public
reports filed with the Securities and Exchange Commission. All
forward-looking statements made herein are qualified by these
cautionary statements and there can be no assurance that the actual
results, events or developments referenced herein will occur or be
realized. The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results.
CONTACT: Analysts and Investors
Jose I. Molina
Vice President of Finance
(305) 441-6901
Analysts, Investors or Media
Brad Edwards
Brainerd Communicators, Inc.
(212) 986-6667
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