LBI Public Offering

Liberman Broadcasting Corp., the Burbank-based Spanish-language broadcast company, plans an initial public offering to raise as much $184 million.

No date has been set for the offering, which is being underwritten by Credit Suisse First Boston, Deutsche Bank Securities and UBS Investment Bank.

The proceeds will be used to retire a portion of $303 million in long-term debt the company carried as of Sept. 30, 2003.

Liberman's operations are divided mostly between Los Angeles and Houston. The L.A. cluster consists of four FM and two AM stations and a television station. The Houston cluster has five FM and four AM stations and a TV station. It also has TV stations in the Dallas and San Diego markets. All are Spanish-language.

The company was founded by Jose and Lenard Liberman, father and son, in 1987. They each hold 46.7 percent of the outstanding Class B common stock, which has 10 times the voting power of the Class A stock to be offered to the public.

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