Raúl Alarcón Jr. is a broadcasting rich person who oversees the Spanish Broadcasting Gadget, one of the most necessary largest Spanish-language media companies in the us. Alarcón is the company’s chief executive officer (CEO) and chairman. He joined the company, which was based totally by the use of his father Pablo, in its product sales department in 1983. Incessantly referred to as SBS, the company owns and integrates radio, television, and digital properties in several markets. It moreover produces live events anchored by the use of its radio station presence.
Key Takeaways
- Raúl Alarcón Jr. is the CEO and chair of the Spanish Broadcasting Gadget, which is likely one of the largest Spanish-language media companies throughout the U.S.
- Alarcón Jr. started the media company in 1983 together with his father, Pablo Raul Alarcón.
- SBS is a multi-media company that comprises Spanish-language radio and television stations, digital platforms, and a live recreational division.
- Alarcón Jr. wanted to be a physician until his father asked him to join the product sales department of SBS in 1983.
- The company went public in 1991 and trades over-the-counter underneath the ticker symbol SBSAA.
Alison Czinkota / Investopedia
Early Life and Coaching
Raúl Alarcón Jr. was born in Havana, Cuba, in 1956 to Pablo Raul Alarcón and Alma Alarcón. His father was a a luck entrepreneur who owned 14 radio stations all the way through Cuba. The family fled Cuba in 1960 when Fidel Castro assumed keep an eye on over the country, at which era Pablo used to be a political refugee.
The family settled throughout the Bronx, New York. There, Alarcón Sr. resumed his career in radio, running for relatively a couple of Spanish radio stations. While Alarcón Jr. was drawn to his father’s art work, he moreover had other ambitions and went on to attend Fordham Faculty with the purpose of turning into a physician.
In 1983, the younger Alarcón’s existence took a novel path. His father, who borrowed $3.5 million to shop for New York The town AM radio station WSKQ, asked him to run the product sales department. Alarcón Jr. joined the company and began what has been a with regards to four-decade career in radio. The father-son pair agreed on a partnership when the younger Alarcón joined and formed Spanish Broadcasting Gadget, which is normally referred to as SBS.
$145.8 million
Spanish Broadcasting Gadget’s consolidated source of revenue for the fiscal twelve months completing Dec. 31, 2021. It marked a 20% build up in general source of revenue, without reference to a 27% drop in source of revenue in its television segment.
Notable Accomplishments
SBS has grown significantly underneath the control of Pablo Raúl Alarcón and his son Raúl Alarcón Jr. As well-known above, SBS is the most important Spanish-language broadcasting company in the us. What began with a single radio station throughout the New York The town space in 1983, the company now operates:
- 17 radio stations in number one markets like New York, Miami, Orlando, Los Angeles, Chicago, and Puerto Rico
- Mega TV, a bunch of six owned and operated over-the-air television stations in South Florida, Puerto Rico, and Houston, in conjunction with other mates across the country
- Digital platforms LaMusica and HitzMaker
- SBS Recreational, the company’s live events and promoting and advertising and marketing division
Honors and Awards
Raúl Alarcón Jr. was awarded the U.S. Hispanic Chamber of Business’s Businessperson of the twelve months Award in 2019. Alarcón won the award at the crew’s National Convention in Albuquerque, which coincided with its 40th anniversary.
The award drew complaint from the Show Actors Guild – American Federation of Television and Radio Artists or SAG-AFTRA. The gang (a troublesome paintings union that represents entertainers and journalists) referred to as on the chamber to rescind its award, announcing SBS did not cut price with staff at its Los Angeles radio stations who voted to unionize for a brand spanking new contract.
Legacy
Alarcón Jr. was promoted to company president in 1985 and had a seat on the board of directors (B of D). SBS used to be a success by the use of 1988, generating product sales of $20 million. The company achieved quite a lot of success and earned additional capital on account of its trendy Spanish construction at WSKQ AM in New York. This allowed SBS to shop for KLAX in Los Angeles, its 2d property and its very first FM station.
SBS had a foot in east and west markets alternatively sought after further capital to build the empire of Spanish-language stations the father-son duo initially envisioned. With that serve as in ideas, SBS went public in 1991, raising over $435 million. The company’s stock trades over-the-counter (OTC) underneath the ticker symbol SBSAA. This set each and every men on the path to very large expansion.
In 1994, Alarcón Jr. used to be the company’s CEO. At the present time, SBS had a couple of radio stations and television possible choices in select markets and by way of Direct TV, in conjunction with a division devoted to reside efficiency production referred to as SBS Recreational. SBS moreover began to extend an internet presence, starting with the purchase of JuJu Media, publishers of a Spanish-English web site referred to as LaMusica.com.
In 2021, Alarcón Jr. passed on the duties of company president to Albert Rodriguez, who serves as the executive running officer (COO). He decided on to be aware of his place as CEO and chair of SBS. He signed a contract in 2018 that assists in keeping him in the ones roles until 2022.
What Is Raúl Alarcón Jr. Recognized for?
Raúl Alarcón Jr. is CEO and chairman of Spanish Broadcasting Gadget, which is likely one of the largest Spanish-language media companies in the us. Established in 1983 by the use of Alarcón Jr. and his father, Pablo, it has a national presence in radio and television and in addition operates a digital platform division along with a live recreational unit.
What Serve as Does Raúl Alarcón Jr. Play in Spanish Broadcasting Gadget?
Raúl Alarcón Jr. is the executive executive officer and chair of SBS. He was finding out at Fordham Faculty to change into a physician alternatively was asked by the use of his father to join the company’s product sales department in 1983. In 1988, Alarcón Jr. was promoted to the location of president and in addition earned a seat on the company’s board. He assumed the location of CEO in 1994. In 2021, Albert Rodriguez used to be president, allowing Alarcón Jr. to concentrate on his duties as SBS’s CEO and chair.
How Can I Gain Shares in Spanish Broadcasting Gadget?
Shares of Spanish Broadcasting Gadget trade over-the-counter underneath the ticker symbol SBSAA. You can achieve shares through a web based or standard brokerage corporate.
The Bottom Line
Raúl Alarcón Jr. is a media rich person. Born in Cuba, he moved together with his family to the us in 1960. His father, who owned and operated radio stations in Cuba, started Spanish Broadcasting Gadget in 1983 with a single radio station. Although he wanted to change into a physician, he joined his father’s industry that twelve months. Since then, Alarcón Jr. has helped switch his father’s company to a national group, with a presence throughout the radio, television, and digital industries, along with a unit that produces live recreational.
