Viacom Takes Step Into Latino Radio Market

Viacom Inc. said it would sell a radio station to Spanish Broadcasting System Inc. for a 10% stake in SBS, marking Viacom’s entry into the U.S. Latino radio market.

The move is a key step for Viacom toward offsetting slowing advertising revenue growth from English-language radio stations.

Viacom, which runs Spanish versions of its MTV music television channel and its Nickelodeon channel for children, lost a bidding war last year with General Electric Co.’s NBC to buy assets including Latino TV broadcaster Telemundo.

“This is just our first step,” Viacom co-President Les Moonves said.