NEW YORK — In 1983, Malrite Communications received outsized attention for its purchase of WVNJ-FM 100.3 in Secaucus, N.J., turning it into WHTZ “Z100” under the programming expertise of Scott Shannon. Somewhat overshadowed until recently is the purchase that same year of WVNJ-AM by what would become Spanish Broadcasting System (SBS).
Founded and led by Raúl Alarcón Jr., SBS would grow to include radio stations in its home market of Miami, and in markets such as Los Angeles, Houston, San Francisco, Chicago, Tampa-St. Petersburg, Orlando and Puerto Rico.
Now, time is running out for Alarcón, as the FCC has opened a pleading cycle that sees the Commission welcome input from interested parties on a federal bankruptcy court-approved post-bankruptcy ownership scheme for SBS that would hand nearly all of the company’s equity to a group of funds.
