COCONUT GROVE, Fla., Nov. 12, 2009 (GLOBE NEWSWIRE) — Spanish Broadcasting System, Inc. (the “Company” or “SBS”) (Nasdaq:SBSA) today reported financial results for the three- and nine-month periods ended September 30, 2009.
Our radio segment net revenue decreased due to lower local and barter sales caused mainly by the decline in economic conditions. The decrease in local sales occurred in all of our markets, with the exception of our San Francisco market. The decrease in barter sales occurred in all of our markets, with the exception of our New York and Miami markets. Our television segment net revenue decreased $0.8 million or 17%, primarily due to a decrease in barter sales and local spot sales.