Spanish Broadcasting System, Inc. (SBS) is a Spanish-language media and entertainment company in the United States. The Company produces and distributes Spanish-language content, including radio programs, television shows, music and live entertainment through its 21 radio stations and its television group, MegaTV, which produces over 50 hours of original programming per week. The Company operates in two segments: radio and television. As of December 31, 2011, the Company also owned 21 bilingual Websites. In addition, the Company produces live concerts and events in the United States and Puerto Rico. The Company operates three Spanish-formatted radio stations. During the year ended December 31, 2011, the Company acquired the assets, including licenses, permits and authorizations issued by the Federal Communications Commission used in or related to the operation of television station KTBU-TV (Digital 42 (Virtual Channel 55)) in Conroe, Texas.