Spanish Broadcasting shareholder Discovery Group sells 810,244 shares

By Lisa Kerner

Charlotte, N.C., Dec. 4 - Spanish Broadcasting System, Inc. investors led by Discovery Group I, LLC sold 810,244 shares of the company's stock between Nov. 17 and Dec. 3 at prices from $0.07 to $0.16 each.

The investors beneficially owns 3.18 million shares, or 7.7%, of the Chicago-based media and entertainment company, according to a schedule 13D/A filed with the Securities and Exchange Commission.

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