Grupo Radio Centro Announces Investment in Los Angeles Radio Station by Aguirre Family

Grupo Radio Centro Announces Investment in Los Angeles Radio Station by Aguirre Family

MEXICO CITY, May 13 /PRNewswire-FirstCall/ -- Grupo Radio Centro, S.A.B. de C.V. (the "Company") (NYSE:RC)(NYSE:BMV:)(NYSE:RCENTRO-A) announced today that certain members of the Aguirre family, who beneficially own 51.6% of the Company, have agreed to purchase a 49% equity stake in Grupo Radio Centro LA, LLC (GRC-LA), a wholly-owned subsidiary of the Company. The Company will retain the remaining 51% stake in GRC-LA.

The Company recently formed GRC-LA to provide programming to the Los Angeles-based radio station, KMVN-FM, pursuant to a Local Marketing Agreement with Emmis Communications Corporation. In exchange for their 49% equity stake, the Aguirre family members have agreed to be responsible for 49% of the cost of the Company's investment in GRC-LA.

In compliance with the Company's corporate governance practices, this transaction has been approved by the Company's board of directors following receipt of a favorable opinion of the Company's corporate practices committee.

Company Description

Grupo Radio Centro owns and/or operates 15 radio stations. Of these 15 radio stations, Grupo Radio Centro operates 11 in Mexico City. The Company's principal activities are the production and broadcasting of musical and entertainment programs, talk shows, news and special events programs. Revenue is primarily derived from the sale of commercial airtime. In addition to the Organizacion Radio Centro radio stations, the Company also operates Grupo RED radio stations and Organizacion Impulsora de Radio (OIR), a radio network that acts as the national sales representative for, and provides programming to, 108 Grupo Radio Centro-affiliated radio stations throughout Mexico.

http://radiocentro.com.mx/

IR Contacts

In Mexico:
Pedro Beltran / Alfredo Azpeitia
Grupo Radio Centro, S.A.B. de C.V.
Tel: (5255) 5728-4800 Ext. 7018
aazpeitia@grc.com.mx

In NY:
Maria Barona / Peter Majeski
i-advize Corporate Communications, Inc.
Tel: (212) 406-3690
grc@i-advize.com.mx

Source: Grupo Radio Centro, S.A.B. de C.V.

CONTACT: IR Contacts in Mexico: Pedro Beltran or Alfredo Azpeitia, both
of Grupo Radio Centro, +011-5255-5728-4800, Ext. 7018, aazpeitia@grc.com.mx;
or in NY: Maria Barona or Peter Majeski, +1-212-406-3690, grc@i-advize.com.mx,
both of i-advize Corporate Communications for Grupo Radio Centro

Web site: http://www.radiocentro.com.mx/

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