During his Q2 earnings call Friday, SBS Chairman and CEO Raul Alarcon ?During the second quarter, we continued seeing a gradual improvement in the advertising environment across select markets, including notable strength in our national sales performance." SBS reported a decrease of 2% in radio revenue for the quarter. Alarcon said the decrease was due to local sales. " The decrease in local sales occurred in all of our markets, with the exception of our New York market. The increase in national sales occurred in our New York, Chicago and Puerto Rico markets. The increase in network sales occurred in all of our markets.
Back on July 11th SBS was approved for a 1-for-10 reverse stock split. Trading under the symbol SBSAD began on the NASDAQ July 12. The symbol returned to the normal SBSA at the open of the market on August 9, 2011. SBS owns and/or operates 21 radio stations located in New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Mexican Regional, Spanish Adult Contemporary and Hurban format genres. SBS operates 3 of the top 6 Spanish-language stations in the nation including the #1 Spanish station in America, WSKQ-FM in New York City.
