MEGA TV Signs Content Sharing Agreement With Fox News

-SBS TV Station to Become the Only Hispanic Fox Affiliate in the United States-

Spanish Broadcasting System (SBS) (NASDAQ:SBSA) announced today that its flagship station, Mega TV, has signed an exclusive content sharing agreement with Fox News. The partnership makes Mega TV Fox News' only Hispanic affiliate in the United States and will provide Mega TV with complete access to the Fox News Edge interactive server.

The alliance strengthens the offerings of Mega TV's news program, Mega News. Through Fox News Edge, a distribution service of footage and reports for local Fox affiliates, Mega News will have a national outlet through which it can deliver its broadcasts that are produced at the WSBS studios in Miami. The program is also offered through DirecTV Más Channel 405. The partnership will also extend to SBS' Mega News property in Puerto Rico once the station is up and running.

Fox News' segments and documentaries will also be integrated into Mega TV's brand new Sunday night issues-and-topics show, "Mega Reporte."

"We are thrilled to be partnering with a company that is led by a true visionary, Rupert Murdoch, whose ambitions and passions for television are in alignment with those of Raul Alarcón, Jr., our CEO," said Cynthia Hudson-Fernández, Executive Vice President and General Creative Director of Spanish Broadcasting System. "This alliance will allow us to expand our news coverage and will help us to be better prepared for the upcoming presidential elections - in which Hispanics will play an integral role in deciding its outcome. Moreover, we are confident that the partnership will positively change the Hispanic market."

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 8 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 Más. SBS also produces live concerts and events throughout the U.S. and Puerto Rico. In addition, the Company operates www.LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture. The Company's corporate Web site can be accessed at www.spanishbroadcasting.com.