Perspective: In the last five years, Spanish-language radio has gone from a group of mom-and-pop outlets to a sophisticated industry. Mega received $65 million in financing from TD Securities and GE Capital, to back further acquisitions in New York, Miami and possibly a foray into California.
News: In the fall, he turned New York AM station WKDM into "WNNY-Noticias 1320," the U.S.' first all-news Spanish-language radio outlet.
Edge: "Our strength is our local marketing power, but national advertisers have realized the huge potential of this market, too. We have most major beer marketers, airlines and insurance companies. New advertisers include H&R Block, Dish Network, Bank of America, McDonald's Corp., Southwest Airlines and Western Union."
Saturation plan: "We're concentrating our forces with different types of stations in seven markets to leverage local sales and marketing strengths in New York, Boston, Hartford, Conn., Philadelphia, Washington, Orlando and Tampa, Fla. In five years we hope to double the size of the company, continuing to super-concentrate in certain markets."
Forecast: "The Hispanic population shows so much growth that adding new radio stations makes the market bigger. Spanish-language radio is becoming increasingly sophisticated, reflecting diverse tastes and demographics."