On the radio side of SBS, net revenue increased $3.4 million or 11%, primarily due to special events revenue, network sales and barter sales. The increase in special events revenue and network sales occurred in all markets. SBS Chairman and CEO Raul Alarcon said, ?We made significant progress during 2011 in executing our plan and advancing our financial performance. Our results reflect the improving advertising climate and the strength of our diversified media assets in reaching the fast-growing Hispanic audience. We have improved the cash generation of our business considerably through a disciplined approach to cost management, even as we have continued to strategically invest in building our brands, expanding our content and supporting our digital platform. Given the positioning of our assets in the nation?s largest Hispanic markets and the ongoing robust growth of the Spanish speaking population, we remain very optimistic about our long-term outlook given the increasing need for advertisers to reach our audience.?
For the quarter ended December 31, 2011, consolidated net revenue totaled $38.2 million compared to $34.9 million for the same prior year period, resulting in an increase of $3.3 million or 9%. Excluding cyclical political sales for the respective periods, consolidated net revenue totaled $38.1 million compared to $33.7 million for the same prior year period, resulting in an increase of $4.4 million or 13%.
