- Megafilms to Produce Original Filmed Content for Theatrical,
Broadcast and DVD Release-
Spanish Broadcasting System, Inc. ("SBS"; NASDAQ: SBSA), the nation's largest publicly traded Hispanic-controlled media and entertainment company in the United States today announced the incorporation of its wholly-owned film subsidiary, Megafilms.
Megafilms will produce Spanish-language filmed content including full-length features, miniseries, telenovelas, documentaries and other forms of filmed entertainment for domestic and international distribution, including theatrical release, broadcast syndication and DVD commercialization.
Emmy award-winning director and screenwriter Agustin has been named as Managing Director for the new SBS division which will be announcing its first original production during second quarter 2008.
"Our entry into filmed entertainment is a natural follow-up to our 2006 debut of MegaTV and our successful efforts in the production of original programming for our network", stated Raúl Alarcón, President and CEO of SBS.
"Our foray into broadcast television alerted us to the staggering demand in the global marketplace for cutting-edge, high-quality filmed entertainment which, until now, has been dominated by a handful of foreign suppliers. And, of course, we intend our own Mega TV to be a primary beneficiary of the Megafilms production slate", added Mr. Alarcón.
Megafilms will benefit from the resources, infrastructure and promotion provided by the various SBS multimedia platforms and their proprietary brands, including the SBS radio network, the Mega TV television network, the SBS stable of online properties as well as the SBS Media Center, a five-acre high-definition production facility currently under construction in Miami.
About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. is the largest publicly traded Hispanic-controlled media and entertainment company in the United States. SBS owns and/or operates 21 radio stations located in the top Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, including the #1 Spanish-language radio station in America, WSKQ-FM in New York City, as well as 4 of the Top 7 rated radio stations airing the Tropical, Mexican Regional, Spanish Adult Contemporary and Hurban format genres. The Company also owns and operates Mega TV, a television operation serving the South Florida market with national distribution through DirecTV. SBS also produces live concerts and events throughout the U.S. and Puerto Rico. In addition, the Company operates LaMusica.com, a bilingual Spanish-English online destination providing content related to Latin music, entertainment, news and culture. The Company's corporate Web site can be accessed at www.spanishbroadcasting.com.
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