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MIAMI, March 30, 2016 -- 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, 2015. 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 14, 2016.
As a result, the Company will reschedule its fourth quarter and full year 2015 earnings release originally scheduled for after the market close today and its conference call originally scheduled for the morning of April 1, 2016. The Company will notify the investment community of the revised date and time for the rescheduled earnings release and conference call.
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Network, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 100 affiliated stations reaching 90% of the U.S. Hispanic audience. SBS also owns 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 multiple bilingual websites, including www.LaMusica.com, an online destination and mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com.
Contacts: Analysts and Investors Joseph A. Garcia Chief Financial Officer (305) 441-6901 Analysts, Investors or Media Brad Edwards Brainerd Communicators, Inc. (212) 986-6667
