Spanish Broadcasting System is ponying up $37.5 million to buy Spanish-language TV station WDLP Miami-Fort Lauderdale, subject to FCC approval.
The full-power station is owned by Dr. William De La Peña and reaches 1.5 million homes over the air, in addition to cable and satellite carriage. Spanish Broadcasting expects the deal to close in the fourth quarter, pending FCC approval.
The company says it will provide an alternative station for Miami’s Hispanic population, the second largest in the country.
Miami is the company’s corporate headquarters and it owns three FM radio stations in the market, WRMA-FM, WCMQ-FM and WXDJ-FM (the market's highest-rated Spanish-language radio station).