This is a pretty wild time in local radio. Here's the latest news from All Access Music Group who report today:
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INFINITY AC KBAA (K-BAY, simulcast with KBAY/SAN JOSE)/SAN FRANCISCO will flip to Spanish as part of a new deal between INFINITY and SPANISH BROADCASTING SYSTEM. INFINITY will merge KBAA into SBS in exchange for a 10% equity interest in SBS and warrants to increase its stake in that company by another 5%.
SBS Chairman/CEO RAUL ALARCON said "This alliance of SBS and VIACOM will create a unique and compelling multimedia platform targeting the eyes and ears of U.S. Latinos for years to come. I am particularly gratified that one of the largest media companies in the world has validated the inherent value and expertise of SBS by choosing to partner with us to capture the future of this dynamic growth market. I'm grateful to INFINITY management and VIACOM for its confidence in affording SBS this opportunity."
The deal also includes cross-platform marketing and promotion involving VIACOM OUTDOOR and INFINITY SOLUTIONS AND BEYOND working with SBS' sales group on outdoor, radio, and television marketing.
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So rumors of any other San Jose station switching formats to Spanish may now be ignored. Or not.
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