Posted: Wed., Aug. 28, 2002, 2:18pm PT

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Hispanic dials N.M. radio

HBC to buy 5 stations with cash on hand, bank financing

MIAMI -- Spanish-lingo radio company Hispanic Broadcasting has agreed to acquire five FM radio stations serving Albuquerque, N.M., from Simmons Media Group for roughly $22.5 million.

It will buy the stations with cash on hand and bank financing. Company expects to close on the acquisitions by year's end.

Hispanic Broadcasting owns and operates 55 radio stations in 14 of the top 20 Hispanic markets. It also owns and operates a network of community-oriented bilingual Web sites, www.netmio.com.

In June Hispanic Broadcasting announced a merger agreement with Spanish-lingo media group Univision Communications; that merger is expected to close by the end of the year.

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