Spanish Broadcasting System, Inc. Reports Results for the Third Quarter 2006

“Spanish Broadcasting System, Inc. (the “Company” or “SBS”) (Nasdaq: SBSA) today reported financial results for the three- and nine-month periods ended September 30, 2006.

Results and Discussions
For the three-months ended September 30, 2006, Consolidated Net Revenue totaled $45.9 million compared to $43.0 million for the same prior year period, resulting in growth of 7%. Radio net revenue totaled $44.6 million compared to $43.0 million for the same prior year period, resulting in growth of 3%, primarily from local and barter revenues, offset by a decrease in national sales. This radio net revenue growth was primarily in our San Francisco and Los Angeles markets. In addition, our new television segment, “MEGA TV”, which debuted on March 1, 2006, generated net revenue of $1.3 million, primarily from local revenues.”

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