Mega Future

Paparazzi's original host, Graciela Mori, who made the show Mega's most popular for a time, left last February over "contract disputes," leading to further speculation about the station's stability.

Perhaps the most damning evidence of the rough road ahead is this: In the past two years, SBS's stock price has fallen from $10 a share to its current price of $4.44. Much of that drop came after the company acquired the Key West station.

The panelists of Paparazzi: Alan Jacott (left), Daisy Ballmajó, host Frank Cairo, Lourdes Ruiz-Toledo, and Allan Villafaña

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• Jaime Bayly
• Enrique Santos
• Frank Cairo
• Spanish Language
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But the people who run Mega TV remain optimistic. Last year SBS purchased a 65,000-square-foot broadcasting center in Doral that is currently under renovation. There the company will consolidate its TV and radio studios. A planned expansion will allow room for more television production -- and perhaps original programming. "We're exactly where we should be for a channel that's only one year old," concludes Hudson.