New York, October 25, 2013 -- Moody's Investors Service ("Moody's") says that Spanish Broadcasting System, Inc. ("Spanish Broadcasting") recently disclosed that the holders of its Series B Preferred Stock put 92,223 outstanding shares to the company for an aggregate repurchase price of $126.9 million (including accumulated and unpaid dividends). The company lacked sufficient funds to repurchase all shares resulting in a "voting rights triggering event" which has no immediate impact on debt ratings.
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