SBS Appoints New President

Veteran Media Exec to Spearhead New Era of Growth and Expansion

MIAMI, FL.(June 16, 2021)– Spanish Broadcasting System, Inc. (the “Company” or “SBS”) (OTC: SBSAA), the nation’s largest Hispanic-owned and targeted media and entertainment entity, announced today that it has named Albert Rodriguez to the position of President of SBS, succeeding Raúl Alarcón, who has served in that capacity since 1985.

Mr. Rodríguez will retain his current title of Chief Operating Officer and will report to Mr. Alarcón, who will continue in his position as Chairman and Chief Executive Officer.

As President, Mr. Rodriguez’s duties will include managing all aspects of SBS’ operations and overseeing the future growth and financial performance of the Company’s radio, TV, digital and experiential businesses and market-leading brands.

Widely regarded in industry circles as a leader in the Latino multimedia sector, SBS is the largest certified minority-owned, Hispanic-targeted media company in the nation, operating top-rated radio formats in the country’s largest markets, including flagship WSKQ-FM in New York City, America’s most-listened-to station in any language (and the #1 Spanish-language station in the world); Aire, the most expansive Spanish-language radio network with 300+ affiliates; LaMusica, the country’s highest-rated and fastest growing Hispanic streaming app; MegaTV, the popular news and political commentary television network; and concert promoter SBS Entertainment and its perennially sold-out roster of signature live events.

“Albert has demonstrated an amazing ability to deliver industry-leading financial results for the Company during the most extraordinarily challenging times in the history of electronic media. He has personally spearheaded a number of corporate initiatives which have been instrumental in establishing the Company’s leadership standing, while adroitly handpicking an executive team which is second-to-none in the industry,” stated Mr. Alarcón.

“After nearly a quarter century of dedication and loyalty in building a track record of stellar achievements, no one is more qualified than Albert Rodríguez to expand upon this Company’s treasured legacy of nearly four decades of service to the nation’s Latino community. I congratulate him on his many accomplishments and very much look forward to his firebrand leadership of SBS in the future,” added Alarcón.

Mr. Rodriguez commented, “I am honored that Raúl is entrusting me with these added responsibilities, particularly at this time of universal recognition and acceptance of the awesome power of the Latino consumer. I look forward to continue executing our Chairman’s vision, which has created extraordinary value for the Company and its shareholders, and to working with our amazing team of content and sales professionals as we together write the next exciting chapter in the history of SBS as the preeminent entertainment destination for U.S. Latinos”, added Rodriguez.

The Company signaled that it will be implementing additional management initiatives in the coming weeks as part of its ongoing efforts at solidifying and expanding its competitive standing in the U.S. media marketplace.