Spanish Broadcasting System, Inc. confirmed that on May 2, 2011, it entered into an agreement to acquire KTBU-TV (Digital 42;Virtual Channel 55) and other television assets serving the Houston market from U.S. Farm & Ranch Supply Company, Inc. and certain of its subsidiaries for $16.0 million. The acquisition is expected to close in the third quarter of 2011, pending FCC approval.

KTBU-TV is a full-power television facility reaching approximately 1.8 million households in Houston, the nation's fourth-largest Hispanic television market, through its over-the-air, cable and satellite distribution platforms.

Raúl Alarcón, President and CEO of SBS, commented, "Houston is a leading U.S. Hispanic market and this transaction is an ideal expansion of our Mega TV footprint, given the rapidly growing national Hispanic population."

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