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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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FORM 4
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[ ] Check this box if no longer
subject to Section 16.
Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer
(Check all applicable)
Alarcon, Sr. Pablo Raul Spanish Broadcasting System, Inc. (SBSA) _X_ Director ___ 10% Owner
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for title below) below)
Number of Reporting Month/Year
Person, if an entity
3191 Coral Way (Voluntary) December 1999
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(Street) 5. If Amendment, 7. Individual or Joint/Group Filing
Date of Original (Check Applicable Line)
(Month/Year) _X_ Form filed by One Reporting Person
___ Form filed by More than One
Miami, FL 33145 Reporting Person
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(City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature of Indirect
(Instr. 3) action action or Disposed of (D) Securities ship Beneficial Ownership
Date Code (Instr. 3, 4 and 5) Beneficially Form: (Instr. 4)
(Instr. 8) Owned at Direct
(Month/ ------------- --------------------------- End of (D) or
Day/ Code V Amount (A) or Price Month Indirect
Year) (D) (Instr. 3 (I)
and 4) (Instr. 4)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v). (Over)
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FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date 7. Title and Amount of
(Instr. 3) sion or action action Derivative Exercisable Underlying Securities
Exercise Date Code Securities and Expiration (Instr. 3 and 4)
Price of (Month/ (Instr. Acquired (A) or Date
Deriv- Day/ 8) Disposed of (D) (Month/Day/
ative Year) (Instr. 3, 4, Year)
Security and 5)
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Expi- Amount or
----------------------------- Date Exer- ration Title Number of
Code V (A) (D) cisable Date Shares
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Class B Common Stock 1-1 12/27/99 J 1,070,000 (1) Immediately none Class A 1,070,000
Common
Stock
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Class B Common Stock 1-1 12/27/99 J 1,070,000 Immediately none Class A 1,070,000
(1) Common
Stock
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8. Price of 9. Number of 10. Ownership 11. Nature of
Deriv- Deriv- Form of Indirect
ative ative Derivative Beneficial
Security Securities Security: Ownership
(Instr. 5) Beneficially Direct (D) (Instr. 4)
Owned at or Indirect
End of Month (I)
(Instr. 4) (Instr. 4)
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D
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1,070,000(1) I Trust
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Explanation of Responses:
(1) Represents 1,070,000 shares of Class B Common Stock transferred to a Flint
Trust with Pablo Raul Alarcon, Sr. as sole beneficiary. The Trustee of the Flint
Trust retains exclusive investment control over the shares of Class B Common
Stock transferred to the Trust.
/s/ Pablo Raul Alarcon 01/10/00
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* *Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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