UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 9, 2017

SPANISH BROADCASTING SYSTEM, INC.

(Exact name of registrant as specified in its charter)

(305) 441-6901

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 – Entry into a Material Definitive Agreement

On June 9, 2017, we closed on the sale of our facilities at 10281 Pico Boulevard, Los Angeles, California (the “Property”) pursuant to an agreement dated May 15, 2017 by our subsidiary Spanish Broadcasting System, Inc. (the “Agreement”).  The Property is where we currently maintain our Los Angeles radio operations.  The purchase price under the Agreement was $14,700,000, which resulted in net proceeds of $10,337,883 to the Company, as defined by the Indenture governing our outstanding 12.5% Senior Secured Notes due 2017 (the “Notes”).  The net proceeds were used to repay a portion of the outstanding indebtedness on our Notes.

Pursuant to a separate office lease agreement, we will continue to maintain our radio operations at the Property for a period of up to 12 months after the closing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.