Another name has been added to Spanish Broadcasting System’s significant transitional period centered around major executives. Chief Financial Officer José Molina is the latest to leave SBS, which recently witnessed the exit of President/COO Albert Rodriguez.
Molina’s departure, reported by Radio Ink‘s sister publication RBR+TVBR, has the Hispanic-focused broadcast company in an active search for his successor.
He has a long history with SBS, originally serving as Director of Finance in 2001 before rising to Vice President of Finance and SVP of Finance before leaving to become CFO of MundoMax Broadcasting in 2015. After spending a year at Univision, he returned to SBS as CFO in 2019.
José Molina oversaw several strategic moves, including the proposed sale of Mega TV to Voz Media, which has yet to close due to funding issues. SBS is currently suing Voz for $64 million claiming breach of contract. Under Molina’s guidance, SBS grew with FM acquisitions in Central Florida. The company is also in the process of growing into the Houston market through Urban One’s divestment, but the transaction has been delayed due to the Voz Media situation.
As for the other C-Suite vacancy, President/COO Albert Rodriguez announced his resignation during the Q3 2023 earnings call. In early February, it was revealed that SBS Founder and Chairman Raúl Alarcón Jr. has stepped in to retake his former role as President.
