• February 19, 2003

Attorneys representing Spanish Broadcasting System have filed a motion for reconsideration in the Southern District of Florida of the Court, after the court dismissed SBS’ lawsuit against radio rivals Hispanic Broadcasting Corp. and Clear Channel last month. As part of the motion, SBS is asking the court for permission to use evidence they uncovered during their deposition of Clear Channel chairman/CEO Lowry Mays and CFO Randell Mays, as well as Hispanic Broadcasting CFO Jeffrey Hinson. The lawsuit was filed in June 2002, including a laundry list of antitrust law violations, from allegations that Clear Channel tried to block SBS’ attempts to raise capital from Wall Street, to charges that it stole away key employees and unfairly engaged in bidding wars to buy stations. Their motive, charged SBS, was to leave SBS in such a state that Clear Channel and HBC could swoop-in and buy it. Clear Channel and HBC have denied any wrong-doing