SPANISH BROADCASTING SYSTEM ANNOUNCES NEW DIVISION “SBS PORTAFOLIO” A CROSS-PLATFORM BRAND STRATEGY DIVISION

CAROLINA SANTAMARINA APPOINTED SENIOR VICE-PRESIDENT, ‘SBS PORTAFOLIO’

Miami, FL. (May 2, 2017)—Spanish Broadcasting System, Inc. (‘SBS’) (OTCQX: SBSAA), a leading Hispanic media company, today announced the launch of ‘SBS Portafolio’ a cross-platform content development division designed to create and expand brand strategies utilizing all of SBS’ assets including Digital, Mobile, Television, Radio, Social Media and live experiences. Industry veteran Carolina Santamarina has been appointed Senior Vice-President of SBS Portafolio and will lead the formation of the new division effective immediately. Ms. Santamarina will be based in Miami, Florida and will report directly to Albert Rodriguez, Chief Operating Officer of SBS.

In her new role, Ms. Santamarina will oversee and expand SBS’s strategic focus on developing alliances with key national partners, and leveraging unique sources of content to maximize brands’ marketing ROI through customized solutions centered on capturing vertical engagement. Ms. Santamarina’s new position as Senior Vice-President of SBS Portafolio reflects the company’s continued focus on expanding alliances with key national distribution and content partners as well as creating and developing compelling integrated advertising and marketing campaigns for its brand partners.

SBS Portafolio develops integrated marketing campaigns that will effectively drive client objectives and brand engagement across all SBS platforms and result in vertical engagement. SBS Portafolio will utilize SBS established brands to execute grassroots marketing campaigns through localized activations. The division will also aggregate, analyze, package and sell the obtained data. SBS Portafolio will lead a new national platform, which will oversee SBS customized content and event marketing, label and artist relations, on-air talent development, creating talent centered, event driven and content source to enhance the company’s industry-leading platforms.

“The formation of SBS Portafolio is consistent with our strategy to utilize the diversity of our media assets and strong audience shares to deliver compelling and innovative multi-platform marketing opportunities to our brand partners,” said Raúl Alarcón, Chairman and CEO. “SBS Portafolio will combine our Hispanic media leadership and strong national and local sales teams to provide a unique channel for brands to reach the rapidly expanding Hispanic population nationwide. Carolina has been a valuable and long-time contributor to SBS’ success and I believe she is the ideal choice to lead this new division.”

“With million listeners a month, 17 broadcast stations across the country, and millions of monthly users of our online and mobile products, including LaMusica App, one of the most popular digital radio and video streaming services, no other media company comes close to SBS’ reach, scale and promotional power,” said Albert Rodriguez COO of SBS. “SBS Portafolio is built on strong local, national market relationships- with our listeners, community leaders, advertisers and partners- and as we continue to strengthen these connections and keep our focus, we also will make the most of our national scale and reach by putting together products, events and relationships that nobody else can. In her new role, Carolina will harness the company’s national scale, local engagement, multiple platforms and relationships to benefit advertising and marketing partners. This is SBS’s powerful competitive advantage, and is key to delivering on our strategy to be where our audiences are with products, content and services they want and expect, and creating unique effective opportunities for national advertisers to leverage multi-platform reach and strong national and local activation capabilities.”

“SBS Portafolio is built on our strong relationships with the audience, advertisers, artists and partners. We have the unparalleled ability to connect artists with their fans and brands with their consumers. In my new role, I’m going to use my expertise to assist brands in building an even closer relationship with their consumers,” said Carolina Santamarina, Senior Vice-President of SBS Portafolio. “Throughout my time with SBS, I have been laser focused on creating value for our strategic partners and ensuring that SBS audiences can find the content and features they love regardless of device or platform. With this new division, I will bring the creativity, innovation and drive to help create result driven campaigns with advertisers through our unique collection of broadcast, events, social, digital and mobile media assets.”

“Our mission at SBS is to ensure separation from the pack. We do so by offering unique and customized solutions for our client partners that cannot be found anywhere else. Portafolio will live within a league of itself, dedicated to tailoring integrated design and partnerships for brands both within the media and artistic space. Portafolio will serve as a think tank meant to engage brands in a way never before understood within the market place. There is no one more qualified to lead this initiative then Carolina Santamarina. I am confident she will excel in this role, as she always has in helping SBS expand its capabilities and grow in the U.S. Hispanic media space,” stated Eric Garcia, Chief Revenue Officer of SBS Radio & General Manager of SBS New York.

Ms. Santamarina has been SBS for over 11 years. She is responsible for many of SBS’s Miami strategic partnerships in sales and integrations including advertising programs that connected on-air, online, mobile and on-location marketing solutions for advertisers. She is still currently serving as SBS’s Miami, Vice President of Sales and General Manager.

SBS continues to demonstrate its commitment to innovation by providing brands and advertisers with new and more effective ways to reach their audiences.

About Spanish Broadcasting System and AIRE Radio Networks

Spanish Broadcasting System, Inc. is a leading Hispanic media company that owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 250 affiliated stations reaching 93% of the U.S. Hispanic audience. SBS also owns MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and owns multiple bilingual websites and LaMusica, a mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com.

MEDIA CONTACT FOR SBS:

Vladimir Gomez

VP Corporate Communications & National Promotions

vgomez@sbscorporate.com

(786) 470-1644

Brad Edwards

Brainerd Communicators, Inc.

edwards@braincomm.com

(212) 986-6667