Autor: venred

Spanish Broadcasting System programa conferencia telefónica sobre el primer trimestre de 2020

MIAMI, 6 de julio de 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (la «Compañía») anunció hoy, 6 de julio de 2020, que divulgará sus resultados financieros del primer trimestre de 2020.

La Compañía llevará a cabo una conferencia telefónica para divulgar sus resultados financieros del primer trimestre de 2020 el miércoles 8 de julio de 2020 a las 11:00 a.m., hora del Este. Para entrar en la teleconferencia, marque el 412-317-5441 diez minutos…

MIAMI, 6 de julio de 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (la «Compañía») anunció hoy, 6 de julio de 2020, que divulgará sus resultados financieros del primer trimestre de 2020.

La Compañía llevará a cabo una conferencia telefónica para divulgar sus resultados financieros del primer trimestre de 2020 el miércoles 8 de julio de 2020 a las 11:00 a.m., hora del Este. Para entrar en la teleconferencia, marque el 412-317-5441 diez minutos antes del inicio.

Si no puede escuchar la teleconferencia en la hora programada, habrá una retransmisión disponible hasta el miércoles 22 de julio de 2020, a la que se podrá acceder marcando el 877-344-7529 (EE.UU.) o el 412-317-0088 (internacional), código: 10145426.

También habrá una transmisión web en vivo de la teleconferencia, colocada en la parte para inversionistas del sitio web corporativo de Spanish Broadcasting, en http://www.spanishbroadcasting.com/webcasts-presentations. Una reproducción de la transmisión web, archivada por siete días, también estará disponible en ese enlace.

Acerca de Spanish Broadcasting System, Inc.  

Spanish Broadcasting System, Inc. (SBS) es propietaria y opera estaciones de radio situadas en los principales mercados hispanos en los Estados Unidos de Nueva York, Los Ángeles, Miami, Chicago, San Francisco y Puerto Rico, transmitiendo los géneros de formato Tropical, Mexicano Regional, Adulto Contemporáneo en Español, Top 40 y Urbano. SBS también opera AIRE Radio Networks, una plataforma nacional de radio de más de 300 estaciones afiliadas que llega al 95% de la audiencia hispana de los Estados Unidos. SBS también es propietaria de MegaTV, una operación de televisión de cadena con distribución en señal abierta, cable y satélite y afiliadas en los Estados Unidos y Puerto Rico, produce una nómina nacional de eventos y conciertos en vivo y es dueña de una serie de propiedades digitales, entre ellas La Musica, una aplicación móvil que ofrece contenido de audio y video continuo con un enfoque latino, y HitzMaker, un destino de talentos nuevos para aspirantes a artistas. Para más información, visítenos en línea en www.spanishbroadcasting.com.

Contactos:

Analistas e Inversionistas 

Analistas, inversionistas o medios 

José I. Molina

Brad Edwards

Director de Finanzas

The Plunkett Group

(305) 441-6901

(212) 739-6740

 

FUENTE Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. Reports Results For The First Quarter 2020

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company» or «SBS») (OTCQB: SBSAA) today reported financial results for the three-months ended March 31, 2020.

Financial Highlights

<td nowrap="nowrap"…

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company» or «SBS») (OTCQB: SBSAA) today reported financial results for the three-months ended March 31, 2020.

Financial Highlights

(in thousands)

(in thousands)

Three Months Ended March 31,

%

2020

2019

Change

Net revenue:

Radio

$

32,533

$

34,079

(5)

%

Television

3,742

3,276

14

%

Consolidated

$

36,275

$

37,355

(3)

%

Adjusted OIBDA*:

Radio

$

10,257

$

10,932

(6)

%

Television

103

138

(25)

%

Corporate

(2,822)

(2,751)

(3)

%

Consolidated

$

7,538

$

8,319

(9)

%

Adjusted OIBDA Margins*:

Radio

32%

32%

Television

3%

4%

Consolidated

21%

22%

* Please refer to the Non-GAAP Financial Measures section for a definition of Adjusted OIBDA and a reconciliation from to the most directly comparable GAAP financial measure.

Discussion and Results

«While our first quarter results were significantly impacted by the COVID-19 pandemic, we continued to make operational and strategic progress,» commented Raúl Alarcón, Chairman and CEO. «Our audio stations held the top rankings across key demos in the New York, Los Angeles and Chicago markets according to Nielsen Audio’s May 2020 PPM Report. This strong showing, together with our expanding digital and social media metrics, drove notable aggregate audience growth in the quarter.»

«We’ve taken significant steps to safeguard our personnel while also aligning our cost structure with current market conditions. In addition, as a leading Spanish-language multi-media company and certified minority business enterprise, we have placed total emphasis on helping Latino communities navigate what has proven to be one of the most difficult periods of their lives. We cherish our audience and understand they know and trust our brands and have strong connections with our innovative formats, on-air content and leading talent.»

«Looking forward, any marketplace uncertainty will be met with an ironclad commitment to continue serving our Latino community, in any and all ways possible.»

«We will be working with the federal government and its representatives, as well as with all state and local authorities, in order to inform and assist our communities and thus continue providing a voice for untold millions of our nation’s citizens during these unprecedented times.»

Quarter Ended Results

For the quarter-ended March 31, 2020, consolidated net revenue totaled $36.3 million compared to $37.4 million for the same prior year period, resulting in a decrease of 3%.  Our radio segment net revenue decreased $1.5 million or 5% due to decreases in local, special events revenue, and barter sales which were partially offset by increases in national, digital and network sales. Additionally, local radio segment revenue includes the negative impact of ad related spot cancellations due to the COVID-19 pandemic. Our television segment net revenue increased $0.5 million or 14% due to the increases in local, national and barter sales, which were offset by decreases in sub-channel rental and subscriber fees revenue.

Consolidated Adjusted OIBDA, a non-GAAP measure, totaled $7.5 million compared to $8.3 million for the same prior year period, representing a decrease of $0.8 million or 9%. Our radio segment Adjusted OIBDA decreased $0.7 million or 6%, primarily due to the decrease in net revenue of approximately $1.5 million partially offset by a decrease in operating expenses of 4%.  Radio station operating expenses decreased mainly due to decreases in advertising, barter and special events expenses which were partially offset by increases in national rep commissions and taxes and licenses costs.  Our television segment Adjusted OIBDA decreased less than $0.1 million due to an increase in operating expenses of approximately $0.5 million offset by the increase in net revenue of approximately $0.5 million. Television station operating expenses increased primarily due to an increase in production costs.  Our corporate expenses, excluding non-cash stock-based compensation, increased $0.1 million or 3%, mostly due to increases in insurance expense.

Operating loss totaled $5.9 million compared to operating income of $5.6 million for the same prior year period, representing a decrease of approximately $11.5 million. This decrease in operating income was primarily due to the impairment charges partially offset by gain from the sale of assets.

First Quarter 2020 Conference Call

We will host a conference call to discuss our first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please call 412-317-5441 ten minutes prior to the start time.

If you cannot listen to the teleconference at its scheduled time, there will be a replay available through Wednesday, July 22, 2020 which can be accessed by dialing 877-344-7529 (U.S) or 412-317-0088 (Int’l), passcode: 10145426

There will also be a live webcast of the teleconference, located on the investor portion of our corporate Web site, at http://www.spanishbroadcasting.com/webcasts-presentations. A seven day archived replay of the webcast will also be available at that link. 

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 300 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, and oral statements made in connection with it, contains certain forward-looking statements.  These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release.  Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that actual results will not differ materially from these expectations.  «Forward-looking» statements, as such term is defined by the Securities Exchange Commission in its rules, regulations and releases, represent our expectations or beliefs, including, but not limited to, statements concerning our operations, economic performance, financial condition, our recapitalization plan and restructuring efforts, the impact of widespread health developments, such as the novel coronavirus, and the governmental, commercial, consumer and other responses thereto, growth and acquisition strategies, investments and future operational plans.  Without limiting the generality of the foregoing, words such as «may,» «will,» «expect,» «believe,» «anticipate,» «intend,» «forecast,» «seek,» «plan,» «predict,» «project,» «could,» «estimate,» «might,» «continue,» «seeking» or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements.  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, those identified in our reports filed with the Securities and Exchange Commission including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.  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 undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

(Financial Tables Follow)

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

Below are the Unaudited Condensed Consolidated Statements of Operations for the three-months ended March 31, 2020 and 2019.

Three Months Ended March 31,

Amounts in thousands, except per share amounts

2020

2019

Net revenue

$

36,275

$

37,355

Station operating expenses

25,915

26,285

Corporate expenses

2,824

2,751

Depreciation and amortization

846

873

Gain on the disposal of assets, net

(3,186)

(36)

Recapitalization costs

1,684

1,930

Impairment charges

14,103

—

Other operating income

—

(17)

Operating (loss) income

(5,911)

5,569

Interest expense

(7,916)

(7,807)

Dividends on Series B preferred stock classified as interest expense

(2,434)

(2,434)

Loss before income tax benefit

(16,261)

(4,672)

Income tax benefit

(1,931)

(740)

Net loss

$

(14,330)

$

(3,932)

Net loss per common share:

Basic and diluted net income (loss) per common share:

Class A common stock

$

(1.95)

$

(0.54)

Class B common stock

$

(1.95)

$

(0.54)

Basic weighted average common shares outstanding:

Class A common stock

4,242

4,242

Class B common stock

2,340

2,340

Diluted weighted average common shares outstanding:

Class A common stock

4,242

4,242

Class B common stock

2,340

2,340

Non-GAAP Financial Measures

Adjusted Operating Income before Depreciation and Amortization, Gain on the Disposal of Assets, Recapitalization Costs, Impairment Charges and Other Operating Income excluding non-cash stock-based compensation («Adjusted OIBDA») is not a measure of performance or liquidity determined in accordance with Generally Accepted Accounting Principles («GAAP») in the United States.  However, we believe that this measure is useful in evaluating our performance because it reflects a measure of performance for our stations before considering costs and expenses related to our capital structure and dispositions.  This measure is widely used in the broadcast industry to evaluate a company’s operating performance and is used by us for internal budgeting purposes and to evaluate the performance of our stations, segments, management and consolidated operations.  However, this measure should not be considered in isolation or as a substitute for Operating Income, Net Income, Cash Flows from Operating Activities or any other measure used in determining our operating performance or liquidity that is calculated in accordance with GAAP.  Adjusted OIBDA does not present station operating income as defined by our Indenture governing the Notes.  In addition, because Adjusted OIBDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures used by other companies. 

Included below are unaudited tables, in thousands, that reconcile Adjusted OIBDA to operating (loss) income for each segment and consolidated operating (loss) income, which are the most directly comparable GAAP financial measures.  

For the Three Months Ended March 31, 2020

Consolidated

Radio

Television

Corporate

Adjusted OIBDA

$

7,538

10,257

103

(2,822)

Less expenses excluded from Adjusted OIBDA but included in operating income (loss):

Stock-based compensation

2

—

—

2

Depreciation and amortization

846

440

349

57

Gain on the disposal of assets, net

(3,186)

(8)

(3,178)

—

Recapitalization costs

1,684

—

—

1,684

Impairment charges

14,103

14,103

—

—

Operating (Loss) Income

$

(5,911)

(4,278)

2,932

(4,565)

For the Three Months Ended March 31, 2019

Consolidated

Radio

Television

Corporate

Adjusted OIBDA

$

8,319

10,932

138

(2,751)

Less expenses excluded from Adjusted OIBDA but included in operating income (loss):

Stock-based compensation

—

—

—

—

Depreciation and amortization

873

376

444

53

Gain on the disposal of assets, net

(36)

(36)

—

—

Recapitalization costs

1,930

—

—

1,930

Other operating income

(17)

(17)

—

—

Operating Income (Loss)

$

5,569

10,609

(306)

(4,734)

Unaudited Segment Data

We have two reportable segments: radio and television.  The following summary table presents separate financial data for each of our operating segments:

Three Months Ended March 31,

Amounts in thousands

2020

2019

Net revenue:

Radio

$

32,533

$

34,079

Television

3,742

3,276

Consolidated

$

36,275

$

37,355

Engineering and programming expenses:

Radio

$

5,608

$

5,481

Television

2,066

1,550

Consolidated

$

7,674

$

7,031

Selling, general and administrative expenses:

Radio

$

16,668

$

17,666

Television

1,573

1,588

Consolidated

$

18,241

$

19,254

Corporate expenses:

$

2,824

$

2,751

Depreciation and amortization:

Radio

$

440

$

376

Television

349

444

Corporate

57

53

Consolidated

$

846

$

873

Gain on the disposal of assets, net:

Radio

$

(8)

$

(36)

Television

(3,178)

—

Corporate

—

—

Consolidated

$

(3,186)

$

(36)

Recapitalization costs:

Radio

$

—

$

—

Television

—

—

Corporate

1,684

1,930

Consolidated

$

1,684

$

1,930

Impairment charges:

Radio

$

14,103

$

—

Television

—

—

Corporate

—

—

Consolidated

$

14,103

$

—

Other operating income:

Radio

$

—

$

(17)

Television

—

—

Corporate

—

—

Consolidated

$

—

$

(17)

Operating (loss) income:

Radio

$

(4,278)

$

10,609

Television

2,932

(306)

Corporate

(4,565)

(4,734)

Consolidated

$

(5,911)

$

5,569

 

SOURCE Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. Reports Results For The First Quarter 2020

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company» or «SBS») (OTCQB: SBSAA) today reported financial results for the three-months ended March 31, 2020.

Financial Highlights

<td nowrap="nowrap"…

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company» or «SBS») (OTCQB: SBSAA) today reported financial results for the three-months ended March 31, 2020.

Financial Highlights

(in thousands)

(in thousands)

Three Months Ended March 31,

%

2020

2019

Change

Net revenue:

Radio

$

32,533

$

34,079

(5)

%

Television

3,742

3,276

14

%

Consolidated

$

36,275

$

37,355

(3)

%

Adjusted OIBDA*:

Radio

$

10,257

$

10,932

(6)

%

Television

103

138

(25)

%

Corporate

(2,822)

(2,751)

(3)

%

Consolidated

$

7,538

$

8,319

(9)

%

Adjusted OIBDA Margins*:

Radio

32%

32%

Television

3%

4%

Consolidated

21%

22%

* Please refer to the Non-GAAP Financial Measures section for a definition of Adjusted OIBDA and a reconciliation from to the most directly comparable GAAP financial measure.

Discussion and Results

«While our first quarter results were significantly impacted by the COVID-19 pandemic, we continued to make operational and strategic progress,» commented Raúl Alarcón, Chairman and CEO. «Our audio stations held the top rankings across key demos in the New York, Los Angeles and Chicago markets according to Nielsen Audio’s May 2020 PPM Report. This strong showing, together with our expanding digital and social media metrics, drove notable aggregate audience growth in the quarter.»

«We’ve taken significant steps to safeguard our personnel while also aligning our cost structure with current market conditions. In addition, as a leading Spanish-language multi-media company and certified minority business enterprise, we have placed total emphasis on helping Latino communities navigate what has proven to be one of the most difficult periods of their lives. We cherish our audience and understand they know and trust our brands and have strong connections with our innovative formats, on-air content and leading talent.»

«Looking forward, any marketplace uncertainty will be met with an ironclad commitment to continue serving our Latino community, in any and all ways possible.»

«We will be working with the federal government and its representatives, as well as with all state and local authorities, in order to inform and assist our communities and thus continue providing a voice for untold millions of our nation’s citizens during these unprecedented times.»

Quarter Ended Results

For the quarter-ended March 31, 2020, consolidated net revenue totaled $36.3 million compared to $37.4 million for the same prior year period, resulting in a decrease of 3%.  Our radio segment net revenue decreased $1.5 million or 5% due to decreases in local, special events revenue, and barter sales which were partially offset by increases in national, digital and network sales. Additionally, local radio segment revenue includes the negative impact of ad related spot cancellations due to the COVID-19 pandemic. Our television segment net revenue increased $0.5 million or 14% due to the increases in local, national and barter sales, which were offset by decreases in sub-channel rental and subscriber fees revenue.

Consolidated Adjusted OIBDA, a non-GAAP measure, totaled $7.5 million compared to $8.3 million for the same prior year period, representing a decrease of $0.8 million or 9%. Our radio segment Adjusted OIBDA decreased $0.7 million or 6%, primarily due to the decrease in net revenue of approximately $1.5 million partially offset by a decrease in operating expenses of 4%.  Radio station operating expenses decreased mainly due to decreases in advertising, barter and special events expenses which were partially offset by increases in national rep commissions and taxes and licenses costs.  Our television segment Adjusted OIBDA decreased less than $0.1 million due to an increase in operating expenses of approximately $0.5 million offset by the increase in net revenue of approximately $0.5 million. Television station operating expenses increased primarily due to an increase in production costs.  Our corporate expenses, excluding non-cash stock-based compensation, increased $0.1 million or 3%, mostly due to increases in insurance expense.

Operating loss totaled $5.9 million compared to operating income of $5.6 million for the same prior year period, representing a decrease of approximately $11.5 million. This decrease in operating income was primarily due to the impairment charges partially offset by gain from the sale of assets.

First Quarter 2020 Conference Call

We will host a conference call to discuss our first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please call 412-317-5441 ten minutes prior to the start time.

If you cannot listen to the teleconference at its scheduled time, there will be a replay available through Wednesday, July 22, 2020 which can be accessed by dialing 877-344-7529 (U.S) or 412-317-0088 (Int’l), passcode: 10145426

There will also be a live webcast of the teleconference, located on the investor portion of our corporate Web site, at http://www.spanishbroadcasting.com/webcasts-presentations. A seven day archived replay of the webcast will also be available at that link. 

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 300 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, and oral statements made in connection with it, contains certain forward-looking statements.  These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release.  Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that actual results will not differ materially from these expectations.  «Forward-looking» statements, as such term is defined by the Securities Exchange Commission in its rules, regulations and releases, represent our expectations or beliefs, including, but not limited to, statements concerning our operations, economic performance, financial condition, our recapitalization plan and restructuring efforts, the impact of widespread health developments, such as the novel coronavirus, and the governmental, commercial, consumer and other responses thereto, growth and acquisition strategies, investments and future operational plans.  Without limiting the generality of the foregoing, words such as «may,» «will,» «expect,» «believe,» «anticipate,» «intend,» «forecast,» «seek,» «plan,» «predict,» «project,» «could,» «estimate,» «might,» «continue,» «seeking» or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements.  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, those identified in our reports filed with the Securities and Exchange Commission including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.  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 undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

(Financial Tables Follow)

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

Below are the Unaudited Condensed Consolidated Statements of Operations for the three-months ended March 31, 2020 and 2019.

Three Months Ended March 31,

Amounts in thousands, except per share amounts

2020

2019

Net revenue

$

36,275

$

37,355

Station operating expenses

25,915

26,285

Corporate expenses

2,824

2,751

Depreciation and amortization

846

873

Gain on the disposal of assets, net

(3,186)

(36)

Recapitalization costs

1,684

1,930

Impairment charges

14,103

—

Other operating income

—

(17)

Operating (loss) income

(5,911)

5,569

Interest expense

(7,916)

(7,807)

Dividends on Series B preferred stock classified as interest expense

(2,434)

(2,434)

Loss before income tax benefit

(16,261)

(4,672)

Income tax benefit

(1,931)

(740)

Net loss

$

(14,330)

$

(3,932)

Net loss per common share:

Basic and diluted net income (loss) per common share:

Class A common stock

$

(1.95)

$

(0.54)

Class B common stock

$

(1.95)

$

(0.54)

Basic weighted average common shares outstanding:

Class A common stock

4,242

4,242

Class B common stock

2,340

2,340

Diluted weighted average common shares outstanding:

Class A common stock

4,242

4,242

Class B common stock

2,340

2,340

Non-GAAP Financial Measures

Adjusted Operating Income before Depreciation and Amortization, Gain on the Disposal of Assets, Recapitalization Costs, Impairment Charges and Other Operating Income excluding non-cash stock-based compensation («Adjusted OIBDA») is not a measure of performance or liquidity determined in accordance with Generally Accepted Accounting Principles («GAAP») in the United States.  However, we believe that this measure is useful in evaluating our performance because it reflects a measure of performance for our stations before considering costs and expenses related to our capital structure and dispositions.  This measure is widely used in the broadcast industry to evaluate a company’s operating performance and is used by us for internal budgeting purposes and to evaluate the performance of our stations, segments, management and consolidated operations.  However, this measure should not be considered in isolation or as a substitute for Operating Income, Net Income, Cash Flows from Operating Activities or any other measure used in determining our operating performance or liquidity that is calculated in accordance with GAAP.  Adjusted OIBDA does not present station operating income as defined by our Indenture governing the Notes.  In addition, because Adjusted OIBDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures used by other companies. 

Included below are unaudited tables, in thousands, that reconcile Adjusted OIBDA to operating (loss) income for each segment and consolidated operating (loss) income, which are the most directly comparable GAAP financial measures.  

For the Three Months Ended March 31, 2020

Consolidated

Radio

Television

Corporate

Adjusted OIBDA

$

7,538

10,257

103

(2,822)

Less expenses excluded from Adjusted OIBDA but included in operating income (loss):

Stock-based compensation

2

—

—

2

Depreciation and amortization

846

440

349

57

Gain on the disposal of assets, net

(3,186)

(8)

(3,178)

—

Recapitalization costs

1,684

—

—

1,684

Impairment charges

14,103

14,103

—

—

Operating (Loss) Income

$

(5,911)

(4,278)

2,932

(4,565)

For the Three Months Ended March 31, 2019

Consolidated

Radio

Television

Corporate

Adjusted OIBDA

$

8,319

10,932

138

(2,751)

Less expenses excluded from Adjusted OIBDA but included in operating income (loss):

Stock-based compensation

—

—

—

—

Depreciation and amortization

873

376

444

53

Gain on the disposal of assets, net

(36)

(36)

—

—

Recapitalization costs

1,930

—

—

1,930

Other operating income

(17)

(17)

—

—

Operating Income (Loss)

$

5,569

10,609

(306)

(4,734)

Unaudited Segment Data

We have two reportable segments: radio and television.  The following summary table presents separate financial data for each of our operating segments:

Three Months Ended March 31,

Amounts in thousands

2020

2019

Net revenue:

Radio

$

32,533

$

34,079

Television

3,742

3,276

Consolidated

$

36,275

$

37,355

Engineering and programming expenses:

Radio

$

5,608

$

5,481

Television

2,066

1,550

Consolidated

$

7,674

$

7,031

Selling, general and administrative expenses:

Radio

$

16,668

$

17,666

Television

1,573

1,588

Consolidated

$

18,241

$

19,254

Corporate expenses:

$

2,824

$

2,751

Depreciation and amortization:

Radio

$

440

$

376

Television

349

444

Corporate

57

53

Consolidated

$

846

$

873

Gain on the disposal of assets, net:

Radio

$

(8)

$

(36)

Television

(3,178)

—

Corporate

—

—

Consolidated

$

(3,186)

$

(36)

Recapitalization costs:

Radio

$

—

$

—

Television

—

—

Corporate

1,684

1,930

Consolidated

$

1,684

$

1,930

Impairment charges:

Radio

$

14,103

$

—

Television

—

—

Corporate

—

—

Consolidated

$

14,103

$

—

Other operating income:

Radio

$

—

$

(17)

Television

—

—

Corporate

—

—

Consolidated

$

—

$

(17)

Operating (loss) income:

Radio

$

(4,278)

$

10,609

Television

2,932

(306)

Corporate

(4,565)

(4,734)

Consolidated

$

(5,911)

$

5,569

 

SOURCE Spanish Broadcasting System, Inc.

Spanish Broadcasting System Schedules First Quarter 2020 Conference Call

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (the «Company») announced that it will release its first quarter 2020 financial results today, July 6, 2020.

The Company will host a conference call to discuss its first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please…

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (the «Company») announced that it will release its first quarter 2020 financial results today, July 6, 2020.

The Company will host a conference call to discuss its first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please 412-317-5441 ten minutes prior to the start time.

If you cannot listen to the teleconference at its scheduled time, there will be a replay available through Wednesday, July 22, 2020 which can be accessed by dialing 877-344-7529 (U.S) or 412-317-0088 (Int’l), passcode: 10145426.

There will also be a live webcast of the teleconference, located on the investor portion of Spanish Broadcasting’s corporate Web site, at http://www.spanishbroadcasting.com/webcasts-presentations. A seven day archived replay of the webcast will also be available at that link. 

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 300 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.

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

 

SOURCE Spanish Broadcasting System, Inc.

Spanish Broadcasting System Schedules First Quarter 2020 Conference Call

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (the «Company») announced that it will release its first quarter 2020 financial results today, July 6, 2020.

The Company will host a conference call to discuss its first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please…

MIAMI, July 6, 2020 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (OTCQB: SBSAA) (the «Company») announced that it will release its first quarter 2020 financial results today, July 6, 2020.

The Company will host a conference call to discuss its first quarter 2020 financial results on Wednesday, July 8, 2020 at 11:00 a.m. Eastern Time.  To access the teleconference, please 412-317-5441 ten minutes prior to the start time.

If you cannot listen to the teleconference at its scheduled time, there will be a replay available through Wednesday, July 22, 2020 which can be accessed by dialing 877-344-7529 (U.S) or 412-317-0088 (Int’l), passcode: 10145426.

There will also be a live webcast of the teleconference, located on the investor portion of Spanish Broadcasting’s corporate Web site, at http://www.spanishbroadcasting.com/webcasts-presentations. A seven day archived replay of the webcast will also be available at that link. 

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 300 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.

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

 

SOURCE Spanish Broadcasting System, Inc.

Dionisio Gutiérrez es entrevistado por FORBES Centroamérica sobre el rescate de la economía post-COVID-19

CIUDAD DE GUATEMALA, 6 de julio de 2020 /PRNewswire/ — En una entrevista para FORBES Centroamérica, el empresario y presidente de Fundación Libertad y Desarrollo, expuso sus análisis y opinión sobre los efectos de la crisis del COVID-19 en la actividad empresarial, la política y  la sociedad.

<img id="prnejpg1532left" title=" " border="0" alt=" " align="middle" imagelabel="General"…

CIUDAD DE GUATEMALA, 6 de julio de 2020 /PRNewswire/ — En una entrevista para FORBES Centroamérica, el empresario y presidente de Fundación Libertad y Desarrollo, expuso sus análisis y opinión sobre los efectos de la crisis del COVID-19 en la actividad empresarial, la política y  la sociedad.

Sobre la estrategia que deberían seguir las empresas para resistir la crisis, Dionisio Gutiérrez afirmó: «Es una cuestión de evaluar escenarios. Habrá un número de empresas en la región que probablemente no puedan abrir sus puertas otra vez, creo que vamos a ver muchas quiebras. El daño a la economía que se está causando por la pandemia, es absolutamente devastador. La forma en que tenemos que ir re-abriendo las economías provocará un aumento en los contagios y por lo tanto en las muertes. Vamos a tener estos «sube y baja» de contagios y si los gobiernos quieren regresar a las cuarentenas y encierros, pues sí, van a detener la velocidad de los contagios, pero aumentarán la crisis en lo social y en lo económico».

A propósito del papel del sector privado comentó: «Las empresas (pequeñas, medianas, grandes e inclusive la economía informal) están en una encrucijada y al final lo que va a suceder es que todos intentarán regresar a la mayor actividad económica que puedan, porque no queda alternativa. Es un tema de sobrevivencia: no tenemos gobiernos como en Estados Unidos o Europa, que su desarrollo y su riqueza les permite dar subsidios y apoyos a las empresas para que no despidan gente o para que no vayan a la quiebra, pero eso es imposible en América Latina».

Adicionalmente, se refirió a las oportunidades económicas que se pueden presentar para América Latina: «La situación geopolítica con China, Estados Unidos y Europa, probablemente provoque un distanciamiento muy importante entre esos países y es ahí donde se abre una oportunidad para América Latina, porque podemos ocupar muchos de los espacios que ha ocupado China para suplir a Estados Unidos y Europa».

Finalmente, abordó las perspectivas de la región después de la pandemia: «Si antes de la pandemia Centroamérica no tenía mayores posibilidades para salir adelante por el escaso crecimiento y nuestras insuficientes economías de escala; después de la pandemia es todavía más urgente volver a poner en el debate público regional, la necesidad de ir hacia la integración económica de Centroamérica».

Vea la entrevista completa haciendo click aquí.

Foto – https://mma.prnewswire.com/media/1200701/Dionisio_Gutierrez_Forbes_Central_America.jpg

Amid the COVID-19 crisis and the looming economic recession, the Electric Guitars market worldwide will grow by a projected US$71.2 Million, during the analysis period

NEW YORK, July 6, 2020 /PRNewswire/ —

Amid the COVID-19 crisis and the looming economic recession, the Electric Guitars market worldwide will grow by a projected US$71.2 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.2%. Electric Guitar, one of the segments analyzed and sized in this study, is forecast to grow at over 2.2% and reach a market size of US$514.3 Million by the end of the…

NEW YORK, July 6, 2020 /PRNewswire/ —

Amid the COVID-19 crisis and the looming economic recession, the Electric Guitars market worldwide will grow by a projected US$71.2 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.2%. Electric Guitar, one of the segments analyzed and sized in this study, is forecast to grow at over 2.2% and reach a market size of US$514.3 Million by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Electric Guitar market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

Read the full report: https://www.reportlinker.com/p05899401/?utm_source=PRN

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.2% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$1.5 Million to the region’s size over the next 7 to 8 years. In addition, over US$1.8 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Electric Guitar segment will reach a market size of US$30.6 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Electric Guitars market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 4.5% over the next couple of years and add approximately US$25.1 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Electric Guitars market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others, C. F. Martin & Co., Inc.; Carvin Corporation; Dean Guitars; Epiphone Guitar Corp.; Fender Musical Instruments Corp.; G&L Musical Instruments; Godin Guitars; Karl Hofner GmbH & Co. KG; Rickenbacker International Corporation; Samick Musical Instrument Co., Ltd.; Schecter Guitar Research; Yamaha Corporation

Read the full report: https://www.reportlinker.com/p05899401/?utm_source=PRN

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Global Competitor Market Shares
Electric Guitar Competitor Market Share Scenario Worldwide
(in %): 2019 & 2028
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

Table 1: Electric Guitars Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027

Table 2: Electric Guitars Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2012-2019

Table 3: Electric Guitars Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Electric Guitar Market Share (in %) by Company: 2019 & 2025
Market Analytics
Table 4: United States Electric Guitars Market Estimates and Projections in US$ Thousand: 2020 to 2027

Table 5: Electric Guitars Market in the United States: A Historic Review in US$ Thousand for 2012-2019

CANADA
Table 6: Canadian Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

Table 7: Canadian Electric Guitars Historic Market Review in US$ Thousand: 2012-2019

JAPAN
Table 8: Japanese Market for Electric Guitars: Annual Sales
Estimates and Projections in US$ Thousand for the Period
2020-2027

Table 9: Electric Guitars Market in Japan: Historic Sales Analysis in US$ Thousand for the Period 2012-2019

CHINA
Table 10: Chinese Electric Guitars Market Growth Prospects in US$ Thousand for the Period 2020-2027

Table 11: Electric Guitars Historic Market Analysis in China in US$ Thousand: 2012-2019

EUROPE
Market Facts & Figures
European Electric Guitar Market: Competitor Market Share
Scenario (in %) for 2019 & 2025
Market Analytics
Table 12: European Electric Guitars Market Demand Scenario in US$ Thousand by Region/Country: 2020-2027

Table 13: Electric Guitars Market in Europe: A Historic Market
Perspective in US$ Thousand by Region/Country for the Period
2012-2019

Table 14: European Electric Guitars Market Share Shift by Region/Country: 2012 VS 2020 VS 2027

FRANCE
Table 15: Electric Guitars Market in France: Estimates and Projections in US$ Thousand for the Period 2020-2027

Table 16: French Electric Guitars Historic Market Scenario in US$ Thousand: 2012-2019

GERMANY
Table 17: Electric Guitars Market in Germany: Recent Past,
Current and Future Analysis in US$ Thousand for the Period
2020-2027

Table 18: German Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

ITALY
Table 19: Italian Electric Guitars Market Growth Prospects in US$ Thousand for the Period 2020-2027

Table 20: Electric Guitars Historic Market Analysis in Italy in US$ Thousand: 2012-2019

UNITED KINGDOM
Table 21: United Kingdom Market for Electric Guitars: Annual
Sales Estimates and Projections in US$ Thousand for the Period
2020-2027

Table 22: Electric Guitars Market in the United Kingdom:
Historic Sales Analysis in US$ Thousand for the Period
2012-2019

SPAIN
Table 23: Spanish Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

Table 24: Spanish Electric Guitars Historic Market Review in US$ Thousand: 2012-2019

RUSSIA
Table 25: Russian Electric Guitars Market Estimates and Projections in US$ Thousand: 2020 to 2027

Table 26: Electric Guitars Market in Russia: A Historic Review in US$ Thousand for 2012-2019

REST OF EUROPE
Table 27: Rest of Europe Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020-2027

Table 28: Electric Guitars Market in Rest of Europe in US$ Thousand: A Historic Review for the Period 2012-2019

ASIA-PACIFIC
Table 29: Asia-Pacific Electric Guitars Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027

Table 30: Electric Guitars Market in Asia-Pacific: Historic
Market Analysis in US$ Thousand by Region/Country for the
Period 2012-2019

Table 31: Asia-Pacific Electric Guitars Market Share Analysis by Region/Country: 2012 VS 2020 VS 2027

AUSTRALIA
Table 32: Electric Guitars Market in Australia: Recent Past,
Current and Future Analysis in US$ Thousand for the Period
2020-2027

Table 33: Australian Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

INDIA
Table 34: Indian Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

Table 35: Indian Electric Guitars Historic Market Review in US$ Thousand: 2012-2019

SOUTH KOREA
Table 36: Electric Guitars Market in South Korea: Recent Past,
Current and Future Analysis in US$ Thousand for the Period
2020-2027

Table 37: South Korean Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

REST OF ASIA-PACIFIC
Table 38: Rest of Asia-Pacific Market for Electric Guitars:
Annual Sales Estimates and Projections in US$ Thousand for the
Period 2020-2027

Table 39: Electric Guitars Market in Rest of Asia-Pacific:
Historic Sales Analysis in US$ Thousand for the Period
2012-2019

LATIN AMERICA
Table 40: Latin American Electric Guitars Market Trends by Region/Country in US$ Thousand: 2020-2027

Table 41: Electric Guitars Market in Latin America in US$
Thousand by Region/Country: A Historic Perspective for the
Period 2012-2019

Table 42: Latin American Electric Guitars Market Percentage Breakdown of Sales by Region/Country: 2012, 2020, and 2027

ARGENTINA
Table 43: Argentinean Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020-2027

Table 44: Electric Guitars Market in Argentina in US$ Thousand: A Historic Review for the Period 2012-2019

BRAZIL
Table 45: Electric Guitars Market in Brazil: Estimates and Projections in US$ Thousand for the Period 2020-2027

Table 46: Brazilian Electric Guitars Historic Market Scenario in US$ Thousand: 2012-2019

MEXICO
Table 47: Electric Guitars Market in Mexico: Recent Past,
Current and Future Analysis in US$ Thousand for the Period
2020-2027

Table 48: Mexican Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

REST OF LATIN AMERICA
Table 49: Rest of Latin America Electric Guitars Market Estimates and Projections in US$ Thousand: 2020 to 2027

Table 50: Electric Guitars Market in Rest of Latin America: A Historic Review in US$ Thousand for 2012-2019

MIDDLE EAST
Table 51: The Middle East Electric Guitars Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027

Table 52: Electric Guitars Market in the Middle East by Region/Country in US$ Thousand: 2012-2019

Table 53: The Middle East Electric Guitars Market Share Breakdown by Region/Country: 2012, 2020, and 2027

IRAN
Table 54: Iranian Market for Electric Guitars: Annual Sales
Estimates and Projections in US$ Thousand for the Period
2020-2027

Table 55: Electric Guitars Market in Iran: Historic Sales Analysis in US$ Thousand for the Period 2012-2019

ISRAEL
Table 56: Israeli Electric Guitars Market Estimates and Forecasts in US$ Thousand: 2020-2027

Table 57: Electric Guitars Market in Israel in US$ Thousand: A Historic Review for the Period 2012-2019

SAUDI ARABIA
Table 58: Saudi Arabian Electric Guitars Market Growth Prospects in US$ Thousand for the Period 2020-2027

Table 59: Electric Guitars Historic Market Analysis in Saudi Arabia in US$ Thousand: 2012-2019

UNITED ARAB EMIRATES
Table 60: Electric Guitars Market in the United Arab Emirates:
Recent Past, Current and Future Analysis in US$ Thousand for
the Period 2020-2027

Table 61: United Arab Emirates Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

REST OF MIDDLE EAST
Table 62: Electric Guitars Market in Rest of Middle East:
Recent Past, Current and Future Analysis in US$ Thousand for
the Period 2020-2027

Table 63: Rest of Middle East Electric Guitars Historic Market Analysis in US$ Thousand: 2012-2019

AFRICA
Table 64: African Electric Guitars Market Estimates and Projections in US$ Thousand: 2020 to 2027

Table 65: Electric Guitars Market in Africa: A Historic Review in US$ Thousand for 2012-2019

IV. COMPETITION
Total Companies Profiled: 41
Read the full report: https://www.reportlinker.com/p05899401/?utm_source=PRN

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SOURCE Reportlinker

Dos noticias recientes de Dongguan reflejan la inclusividad de la ciudad y ayudan a atraer talentos

DONGGUAN, China, 6 de julio de 2020 /PRNewswire/ — Dos noticias locales sobre la ciudad china de Dongguan concitaron recientemente gran atención entre los medios chinos. Una de ellas fue un mensaje dejado por un trabajador inmigrante para la Biblioteca de Dongguan que provocó acalorados debates sobre la cultura y el espíritu de la ciudad en Internet. La otra fue la difusión de un documental sobre la cultura gastronómica de <span…

DONGGUAN, China, 6 de julio de 2020 /PRNewswire/ — Dos noticias locales sobre la ciudad china de Dongguan concitaron recientemente gran atención entre los medios chinos. Una de ellas fue un mensaje dejado por un trabajador inmigrante para la Biblioteca de Dongguan que provocó acalorados debates sobre la cultura y el espíritu de la ciudad en Internet. La otra fue la difusión de un documental sobre la cultura gastronómica de Dongguan titulado «A Bite of Dongguan» (Un bocado de Dongguan), que ha impulsado a la gente en la búsqueda de una vida mejor.

Wu Guichun, un hombre de 54 años de Hubei (China), trabaja en Dongguan hace 17 años. Se esfuerza mucho para sostener a su familia y ayudar a su hijo a terminar sus estudios. Recientemente, quedó sin empleo por la pandemia. Antes de regresar a casa, visitó la Biblioteca de Dongguan y dejó su mensaje.

«Hace 17 años que estoy en Dongguan y hace 12 años que leo libros en su biblioteca. Los libros hacen más sabios a los hombres y no representan daño para la gente. Cuando pienso en mi vida en Dongguan en todos estos años, el mejor lugar es la biblioteca. Aunque estoy poco dispuesto a irme, jamás te olvidaré, Biblioteca de Dongguan, en lo que me quede de vida», escribió Wu Guichun en el tablero de anuncios.

Como trabajador rural migrante, Wu Guichun mostró un afecto por los libros y por Dongguan que concitó gran atención entre los usuarios de Internet chinos y obtuvo una oportuna respuesta del gobierno local. Con la ayuda de los departamentos pertinentes, encontró nuevas oportunidades de empleo.

Según las estadísticas, para fines de 2019, la población migrante permanente de Dongguan era de casi seis millones de personas, que representan más del 70% de la población total de la ciudad. Xiao Yafei, alcalde de la ciudad, declaró en las dos sesiones de Dongguan de 2020 que priorizar la estabilidad del empleo y proteger los medios de vida de las personas son dos de los objetivos principales previstos para Dongguan durante todo el año.

Wu Guichun afirmó que Dongguan tiene un buen ambiente urbano y es muy acogedora para los trabajadores migrantes. En Dongguan, todos pueden disfrutar igualmente de servicios culturales públicos gratuitos y de alta calidad, lo cual ayuda a enriquecer su vida espiritual y ampliar sus conocimientos.

Algunos observadores sociales consideran que una de las medidas importantes de China para enfrentar la depresión económica es mejorar la forma de vida de la gente en aspectos tales como la educación, la atención médica, el entorno ecológico y los servicios públicos, para optimizar el ambiente de negocios y la calidad de vida y, de este modo, hacer que las instituciones del mercado y los residentes tengan una sensación de felicidad y logro. Es una excelente forma de estimular la vitalidad del mercado y ayudar a la recuperación económica de China.

Según el «Informe del ambiente de negocios de las ciudades de China 2019″, Dongguan se ubica en el quinto puesto entre las ciudades de la economía activa de China. Para construir un entorno internacional de negocios propicio, Dongguan se centra en la creación de una cultura urbana abierta e inclusiva para atraer agentes globales de producción.

Por otra parte, se está difundiendo un documental titulado «A Bite of Dongguan«. Presenta más de 130 tipos de ingredientes y platos locales de Dongguan. Mediante una serie de personajes e historias vitales, muestra el ambiente humanístico único que integra la cultura tradicional y la moderna, la nativa y la externa. El documental se presentó oficialmente el 21 de junio. El 1 de julio ya tenía más de 27 millones de reseñas y numerosos comentarios positivos.

El equipo de producción del documental dijo que Dongguan, ciudad costera en el sur de China, ha atraído una gran inmigración procedente del norte de China durante más de 1.600 años en su desarrollo. Los migrantes fueron combinando sus tradiciones culinarias con características locales para formar una variedad de cocinas.

Como muestra también el documental «The Era of Manufacturing» (La era de la fabricación), la gente es siempre el centro de la ciudad de Dongguan y el principal factor de su inclusividad y su calidad. El primer episodio, «The Marvelous Workmen» (Los maravillosos trabajadores), pone de relieve el poder humano en la industria de Dongguan mediante las historias de trabajadores de fábricas locales.

Algunos usuarios de Internet comentaron que la desarrollada industria de las manufacturas ha rotulado a Dongguan como una «fábrica mundial». Visitantes de distintos lugares del mundo han traído muchas exquisiteces, tales como los fideos de Shaanxi y los fideos de arroz de Guangxi, la parrilla de Xinjiang y las ostras grilladas de Guangdong, el asado coreano y la cocina japonesa, y todo ello hace más inclusiva a la cultura alimentaria de Dongguan. Como la propagación de la epidemia está controlada en China, la industria gastronómica, conocida como un «barómetro» de la situación del consumo, ha retornado gradualmente a la normalidad. La difusión de este documental en este momento es también de gran importancia para impulsar el consumo y promover la recuperación de la economía.

La comida también puede entibiar el corazón de la gente. El documental permite que más personas entiendan la bondad humana de la famosa ciudad industrial. Las comidas ponen de manifiesto el amor a la vida de la gente y la inclusividad de la ciudad. Como dijo Wu Guichun, «en Dongguan nos sentimos en casa». La ciudad inclusiva atraerá cada vez más inversores, hombres de negocios y trabajadores para invertir, trabajar y vivir.

 

 

FUENTE Dongguan Library

El Empire State Building celebra gran final de la edición anual 44 del espectáculo de fuegos artificiales del 4 de Julio de Macy’s

Las luces del Empire State Building se sincronizan con su primer espectáculo de fuegos artificiales 

NUEVA YORK, 6 de julio de 2020 /PRNewswire/ — Por primera vez en la historia de la Ciudad de Nueva York, se lanzaron fuegos artificiales desde los pisos 72 y 103 del Empire State Building, y desde su famoso observatorio del piso 86. Sus luces ofrecieron un espectáculo sincronizado que fue el único elemento en vivo de la transmisión de NBC de la edición anual 44 del…

Las luces del Empire State Building se sincronizan con su primer espectáculo de fuegos artificiales 

NUEVA YORK, 6 de julio de 2020 /PRNewswire/ — Por primera vez en la historia de la Ciudad de Nueva York, se lanzaron fuegos artificiales desde los pisos 72 y 103 del Empire State Building, y desde su famoso observatorio del piso 86. Sus luces ofrecieron un espectáculo sincronizado que fue el único elemento en vivo de la transmisión de NBC de la edición anual 44 del espectáculo de fuegos artificiales del 4 de Julio de Macy´s (Macy’s July 4th Fireworks® Spectacular). El corazón de la Ciudad de Nueva York, y el ícono internacional de una ciudad tan atractiva que la nombraron dos veces, ofreció una exhibición sin igual al compás de New York, New York, el inmortal tema de Frank Sinatra. 

El espectáculo sincronizado de música y luces del edificio fue diseñado por el mundialmente conocido diseñador de luminotecnia Marc Brickman y su equipo de Tactical Manoeuvre, y fue ejecutado impecablemente en un cielo nocturno despejado. El humo de los fuegos artificiales resaltó el espectáculo de luces especial, que ahora está disponible en el canal de YouTube del Empire State Building.

«Somos el corazón de la Ciudad de Nueva York, la ciudad más grandiosa del mundo. Durante este 4 de Julio, nos sumamos a Macy’s y llevamos alegría a nuestro hogar que vuelve a despertar, conforme continuamos nuestra excepcional función de embajador del mundo», declaró Anthony E. Malkin, presidente, director general y CEO de Empire State Realty Trust. «Tenemos muchas ganas de volver a darles la bienvenida a los visitantes a nuestro completamente nuevo y ultramoderno observatorio, renovado a un costo de $165 millones, con su excepcional énfasis en la calidad ambiental interior con filtros Merv-13, Atmos Air y ventilación con aire exterior».

Se tiene previsto que el observatorio del Empire State Building abra sus puertas, a más tardar, en la fase 4 de la reapertura de la Ciudad de Nueva York. Mientras tanto, los fans del edificio pueden compartir sus fotos del espectáculo en las plataformas de redes sociales con la etiqueta #EmpireStateBuilding. Se puede acceder aquí a un enlace a las fotos del evento, con crédito de Kent Miller/Macy’s.

Acerca del Empire State Building
Elevándose 443 metros sobre Midtown Manhattan (desde la base hasta la parte superior de la antena), el Empire State Building, propiedad de Empire State Realty Trust, Inc., es el «edificio más famoso del mundo». Con nuevas inversiones en la eficiencia energética, la infraestructura, las áreas públicas y los servicios, el Empire State Building ha atraído a inquilinos de primera clase en una diversa gama de sectores de todo el mundo. El Empire State Building fue nombrado el destino de viaje más popular del mundo en un estudio realizado por Uber y fue nombrado el edificio favorito de Estados Unidos en una encuesta realizada por el Instituto Estadounidense de Arquitectos (American Institute of Architects). Para más información sobre el Empire State Building, le rogamos visitar www.empirestatebuilding.com, www.facebook.com/empirestatebuilding, https://twitter.com/empirestatebldg, www.instagram.com/empirestatebldg, http://weibo.com/empirestatebuilding, www.youtube.com/esbnyc, https://www.tiktok.com/@empirestatebldg o www.pinterest.com/empirestatebldg.

Acerca de Empire State Realty Trust  
Empire State Realty Trust, Inc. (NYSE: ESRT), un importante fideicomiso de inversión en bienes inmuebles (real estate investment trust, REIT), posee, gestiona, opera, adquiere y reposiciona propiedades de oficina y establecimientos minoristas en Manhattan y el área metropolitana de la Ciudad de Nueva York, entre ellos el Empire State Building, el «edificio más famoso del mundo». Con sede corporativa en la Ciudad de Nueva York, estado de Nueva York, la cartera de propiedades de oficina y establecimientos minoristas de la empresa abarca 938.000 metros cuadrados de espacio para alquiler, al 31 de marzo de 2020, consistentes en 873.000 metros cuadrados de espacio para alquiler en 14 propiedades de oficina, de ellas nueve en Manhattan, tres en el condado de Fairfield, Connecticut, y dos en el condado de Westchester, Nueva York; y aproximadamente 65.000 metros cuadrados de espacio para alquiler en establecimientos minoristas. 

Foto: https://mma.prnewswire.com/media/1200245/Empire_State__Blue_Fireworks.jpg

 

FUENTE Empire State Realty Trust, Inc.