In July 1999, Uno Radio of Ponce Inc., Caguas, P.R. (Jesus M. Soto, chairman) reached an agreement to purchase five radio stations in Puerto Rico from Ponce Broadcasting Corp. (Janero G. Scarano Sr., Julio C. Braum, Luis F. Sala, Catalina Scarano and Sala Business Corp., shareholders) for a reported sale price of $10.75 million.[3]