After years of pressure from analysts to exit the TV business and focus solely on radio and digital, Spanish Broadcasting System is selling off its television division. The Hispanic broadcaster will receive $64 million for “Mega TV” and associated real estate from Voz Media, an online news service that serves Latinos in the U.S and Latin America from studios in Dallas, Miami and Madrid.

Stations included in the deal are WSBS-DCA19 and WSBS-DTV 3 in Miami; and WTCV-DTV 21, WVEO-DTV 17, and WWOZ-DTV 36 in Puerto Rico. All five stations carry the company’s “Mega TV” Spanish-language network programming.

"I am very proud of the nearly two decades of award-winning programming, community dedication and industry accomplishments achieved by Mega TV, a network operation that succeeded in forging its own unique position among Hispanic viewers in the U.S. and Puerto Rico," SBS Chairman and CEO Raúl Alarcón said in a news release. "I am especially pleased to leave this unique asset in the hands of a dedicated Hispanic owner, Orlando Salazar, the founder of Voz Media, who will continue the expansion of Mega TV and honor its unwavering commitment to faithfully serve our nation's burgeoning Latino population. Minority ownership of the media, and the opportunities it affords to our nation's fastest-growing constituency, is a critical component in guaranteeing a stable, profitable and promising future for America."

The TV division has long been dwarfed by SBS’ larger radio unit and growing digital assets. “Mega TV” produced $3.2 million in revenues in third quarter 2022, up 7% year-over-year. By comparison, the company’s radio division – which includes “Mega 97.9” WSKQ New York, “El Zol 106.7” WXDJ Miami, and “Mega 96.3” KXOL Los Angeles – posted $38.0 million in Q3 revenue for a 6% year-over year gain. SBS also owns radio stations in San Francisco, Chicago, Orlando, Tampa and Puerto Rico.

"It is an honor for Voz Media to be selected to continue the work and tradition started by Raúl Alarcón and Mega TV in the Spanish language television media market," said Orlando Salazar, founder of Voz Media. "We take seriously the challenge of moving Mega TV forward in both reach and content, as we continue to serve Spanish speakers across the United States."

SBS President and COO Albert Rodriguez added, "We couldn't be more proud of the fact that the legacy of Mega TV will continue under the leadership of another Hispanic-owned media company. Orlando and the Voz Media team have our unqualified support and we look forward to working with them throughout this transition and beyond."

The transaction is expected to close once it gets the regulatory greenlight from the Federal Communications Commission.

Voz Media says it provides “alternative news and content for Latinos in the U.S., as well as Latin America, which reflect the core Hispanic values of hard work, faith and commitment to family.”