Mes: febrero 2021

EAST ANOVER, N.J., Feb. 5, 2021 /PRNewswire-PRWeb/ — National Trends in Disability Employment (nTIDE) – issued semi-monthly by Kessler Foundation and the University of New Hampshire

As COVID-19 outbreaks continue to affect national and local economies, the job market struggled to maintain momentum, according to today’s National Trends in Disability Employment – Monthly Update (nTIDE), issued by Kessler Foundation and the University of New Hampshire’s Institute on Disability (UNH-IOD). In the coming months, prospects for recovery may improve as vaccine availability increases and the federal government implements new public health measures and considers additional economic relief.

nTIDE COVID Update (month-to-month comparison)
In the Bureau of Labor Statistics (BLS) Jobs Report released Friday, the employment-to-population ratio for working-age people with disabilities decreased from 29.4 percent in December 2020 to 28.7 percent in January 2021 (down 2.4 percent or 0.7 percentage points). For working-age people without disabilities, the employment-to-population ratio also decreased from 70.9 percent in December 2020 to 70.5 percent in January 2021 (down 0.6 percent or 0.4 percentage points). The employment-to-population ratio, a key indicator, reflects the percentage of people who are working relative to the total population (the number of people working divided by the number of people in the total population multiplied by 100).

«In January, we saw a decrease in the employment-to-population ratio as COVID-19 infections spiked across the nation following the Christmas and New Year holidays,» said John O’Neill, PhD, director of the Center for Employment and Disability Research at Kessler Foundation. «We should see improvement in the employment-to-population ratio in coming months as the stimulus bills kick in and vaccines are more widely distributed,» he added.

The labor force participation rate for working-age people with disabilities decreased from 33.2 percent in December 2020 to 32.8 percent in January 2021 (down 1.2 percent or 0.4 percentage points). For working-age people without disabilities, the labor force participation rate also decreased from 75.7 percent in December 2020 to 75.5 percent in January 2021 (down 0.3 percent or 0.2 percentage points). The labor force participation rate is the percentage of the population that is working, not working and on temporary layoff, or not working and actively looking for work.

«The labor force participation rate for people with disabilities also declined slightly in January,» noted economist Andrew Houtenville, PhD, research director of the University of New Hampshire’s Institute on Disability. «Over the course of the pandemic, we have seen people with disabilities staying engaged in the workforce by either working, actively looking for work, or still expecting to be recalled. The decline in January may reflect the reinstatement of restrictions to stop the increasing spread of COVID-19.»

Traditional nTIDE Numbers (comparison to the same time last year)
The employment-to-population ratio for working-age people with disabilities decreased from 30.7 percent in January 2020 to 28.7 percent in January 2021 (down 6.5 percent or 2 percentage points). For working-age people without disabilities, the employment-to-population ratio also decreased from 74.4 percent in January 2020 to 70.5 percent in January 2021 (down 5.2 percent or 3.9 percentage points).                                                                     

The labor force participation rate for working-age people with disabilities decreased from 33.6 percent in January 2020 to 32.8 percent in January 2021 (down 2.4 percent or 0.8 percentage points). For working-age people without disabilities, the labor force participation rate also decreased from 77.4 percent in January 2020 to 75.5 percent in January 2021 (down 2.5 percent or 1.9 percentage points).

In January 2021, among workers ages 16-64, the 4,279,000 workers with disabilities represented 3.1 percent of the total 138,541,000 workers in the U.S.

nTIDE COVID Update – Friday, February 19 at 12:00 pm Eastern
Stay tuned for our mid-month update about the employment of people with disabilities as we follow the impact of COVID-19 and look at the numbers in more detail.

Ask Questions about Disability and Employment
Join our nTIDE Lunch & Learn series today, February 5, at 12:00 pm Eastern. This live broadcast, hosted via Zoom Webinar, offers attendees Q&A on the latest nTIDE findings, provides news and updates from the field, as well as invited panelists to discuss current disability-related findings and events. Today, Day Al-Mohamed, author, filmmaker, and disability policy executive, joins Dr. Houtenville, Dr. O’Neill from Kessler Foundation, and Denise Rozell, Policy Strategist at AUCD. Join live or watch the recordings at: ResearchonDisability.org/nTIDE.

NOTE: The statistics in the nTIDE are based on Bureau of Labor Statistics numbers but are not identical. They are customized by UNH to combine the statistics for men and women of working age (16 to 64). nTIDE is funded, in part, by grants from the National Institute on Disability, Independent Living and Rehabilitation Research (NIDILRR) (90RT5037) and Kessler Foundation.

About Kessler Foundation
Kessler Foundation, a major nonprofit organization in the field of disability, is a global leader in rehabilitation research that seeks to improve cognition, mobility, and long-term outcomes — including employment — for people with neurological disabilities caused by diseases and injuries of the brain and spinal cord. Kessler Foundation leads the nation in funding innovative programs that expand opportunities for employment for people with disabilities. For more information, visit KesslerFoundation.org.

About the Institute on Disability at the University of New Hampshire
The Institute on Disability (IOD) at the University of New Hampshire (UNH) was established in 1987 to provide a coherent university-based focus for the improvement of knowledge, policies, and practices related to the lives of persons with disabilities and their families. For information on the NIDILRR-funded Employment Policy and Measurement Rehabilitation Research and Training Center, visit ResearchonDisability.org.

For more information, or to interview an expert, contact:
Carolann Murphy, 973.324.8382, CMurphy@KesslerFoundation.org.

Media Contact

Carolann Murphy, Kessler Foundation, 973.324.8382, CMurphy@KesslerFoundation.org

SOURCE Kessler Foundation

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be flat from the comparable political period for the three months ended December 31, 2018 and a decrease of 13% to 15% as compared to the three months ended December 31, 2019. The Company expects Adjusted OIBDA to be between $15.3 million and $16.4 million, which represents an increase of 81% to 94% as compared to the three months ended September 30, 2020. Adjusted OIBDA is expected to decrease 18% to 24% as compared to the three months ended December 31, 2019. The Company expects cash and cash equivalents at December 31, 2020 to be $28 million. 

Adjusted OIBDA is a supplemental financial measure that is not prepared in accordance with GAAP.  Adjusted OIBDA is not a measure of operating performance determined in accordance with GAAP, and should not be considered in isolation nor construed as an alternative to operating income, net (loss) income or cash from operating, investing or financing activities, each as determined in accordance with GAAP. Moreover, Adjusted OIBDA is not a measure determined in accordance with GAAP and thus is susceptible to varying interpretations and calculations.

We calculate Adjusted OIBDA by adding back to operating income (i) depreciation and amortization, (ii) (gain) loss on the disposal of assets, net, (iii) recapitalization costs, (iv) impairment charges, (v) executive severance, (vi) other operating income or expense and (vii) stock-based compensation to operating income. Currently, we are unable to provide a reconciliation for Adjusted OIBDA to net income (loss) (the most comparable GAAP measure) because a final review of the underlying amounts to reconcile Adjusted OIBDA to net income (loss) has not been completed.

The foregoing preliminary estimates presented in this press release are based on the Company’s current expectations, are unaudited and may be adjusted as a result of, among other things, the completion of the Company’s quarterly and annual financial closing procedures and audit by the Company’s independent registered public accounting firm. Actual results may differ materially from those disclosed in this press release.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

SOURCE Spanish Broadcasting System, Inc.

MIAMI, Feb. 5, 2021 /PRNewswire/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be flat from the comparable political period for the three months ended December 31, 2018 and a decrease of 13% to 15% as compared to the three months ended December 31, 2019. The Company expects Adjusted OIBDA to be between $15.3 million and $16.4 million, which represents an increase of 81% to 94% as compared to the three months ended September 30, 2020. Adjusted OIBDA is expected to decrease 18% to 24% as compared to the three months ended December 31, 2019. The Company expects cash and cash equivalents at December 31, 2020 to be $28 million. 

Adjusted OIBDA is a supplemental financial measure that is not prepared in accordance with GAAP.  Adjusted OIBDA is not a measure of operating performance determined in accordance with GAAP, and should not be considered in isolation nor construed as an alternative to operating income, net (loss) income or cash from operating, investing or financing activities, each as determined in accordance with GAAP. Moreover, Adjusted OIBDA is not a measure determined in accordance with GAAP and thus is susceptible to varying interpretations and calculations.

We calculate Adjusted OIBDA by adding back to operating income (i) depreciation and amortization, (ii) (gain) loss on the disposal of assets, net, (iii) recapitalization costs, (iv) impairment charges, (v) executive severance, (vi) other operating income or expense and (vii) stock-based compensation to operating income. Currently, we are unable to provide a reconciliation for Adjusted OIBDA to net income (loss) (the most comparable GAAP measure) because a final review of the underlying amounts to reconcile Adjusted OIBDA to net income (loss) has not been completed.

The foregoing preliminary estimates presented in this press release are based on the Company’s current expectations, are unaudited and may be adjusted as a result of, among other things, the completion of the Company’s quarterly and annual financial closing procedures and audit by the Company’s independent registered public accounting firm. Actual results may differ materially from those disclosed in this press release.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

View original content:http://www.prnewswire.com/news-releases/spanish-broadcasting-system-inc-reports-select-preliminary-estimated-financial-results-for-the-fourth-quarter-2020-301223242.html

SOURCE Spanish Broadcasting System, Inc.

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today that it has launched an offering of $310 million in aggregate principal amount of senior secured notes due 2026 (the «Notes»). The Notes will be guaranteed on a senior secured basis by certain of the Company’s subsidiaries, and secured, subject to certain exceptions, on a first-priority basis by the Notes collateral.

The Company expects to use the net proceeds of this offering along with cash on hand (i) to repay its 12.5% senior secured notes due 2017, (ii) along with certain other consideration, to repurchase and/or redeem all of its outstanding 10 3/4% Series B cumulative exchangeable redeemable preferred stock, $0.01 par value (the «Series B Preferred Stock») and (iii) to pay related fees and expenses.

The Notes and the related guarantees are being offered in the United States to persons reasonably believed to be «qualified institutional buyers» pursuant to Rule 144A under the Securities Act of 1933, as amended (the «Securities Act»), and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release does not constitute a redemption notice for the Series B Preferred Stock and is not an offer to purchase or a solicitation of an offer to sell the Series B Preferred Stock.

About Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contact:
Analysts and Investors
José I. Molina
Chief Financial Officer
(305) 441-6901

SOURCE Spanish Broadcasting System, Inc.

MIAMI, Feb. 5, 2021 /PRNewswire/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today that it has launched an offering of $310 million in aggregate principal amount of senior secured notes due 2026 (the «Notes»). The Notes will be guaranteed on a senior secured basis by certain of the Company’s subsidiaries, and secured, subject to certain exceptions, on a first-priority basis by the Notes collateral.

The Company expects to use the net proceeds of this offering along with cash on hand (i) to repay its 12.5% senior secured notes due 2017, (ii) along with certain other consideration, to repurchase and/or redeem all of its outstanding 10 3/4% Series B cumulative exchangeable redeemable preferred stock, $0.01 par value (the «Series B Preferred Stock») and (iii) to pay related fees and expenses.

The Notes and the related guarantees are being offered in the United States to persons reasonably believed to be «qualified institutional buyers» pursuant to Rule 144A under the Securities Act of 1933, as amended (the «Securities Act»), and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release does not constitute a redemption notice for the Series B Preferred Stock and is not an offer to purchase or a solicitation of an offer to sell the Series B Preferred Stock.

About Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contact:
Analysts and Investors
José I. Molina
Chief Financial Officer
(305) 441-6901

View original content:http://www.prnewswire.com/news-releases/spanish-broadcasting-system-inc-announces-launch-of-310-million-senior-secured-notes-offering-301223240.html

SOURCE Spanish Broadcasting System, Inc.