Spanish Broadcasting System has some of the top radio stations in some of the largest US markets and CEO Raul Alarcon noted in yesterday's quarterly conference call that the SBS stations are continuing to grow audience shares. So, what's needed is to match ad sale to those ratings numbers. "We are optimistic that we can return to growth in the second half of the year," Alarcon told analysts and investors. National ad sales have been a particular problem, but COO Marko Radlovic said Interep "is showing signs of life" and national sales are currently pacing up double digits for Q4.
The company's guidance for Q3, however, was below what The Street had expected. SBS says revenues are expected by be down in the low single digits. Mega TV, the company's one-year-old TV venture in Miami, is expected to post an operating loss of 2.5-3.0 million for the quarter.