La Nación Buys impreMedia; Becomes Controlling Shareholder
US Hispanic Media Inc. has reached an agreement to become impreMedia’s strategic and controlling shareholder. This agreement will enable impreMedia to accelerate its transformation into a robust multimedia company by combining impreMedia’s knowledge of and access to the U.S. Hispanic market with USHM and La Nación’s know-how and successful track record across print and online media platforms in Latin America.
“impreMedia has a strong history of quality content that deeply engages audiences, local brands that resonate with the local communities they serve, market knowledge and an entrepreneurial approach. These elements constitute an outstanding platform for further development of new products, with an aim to attract new audiences and become the first choice for advertisers addressing the US Hispanic market,” stated Eduardo Lomanto, USHM President.
Monica Lozano will remain CEO of impreMedia. Its editorial content will remain under the direction and control of impreMedia’s newsroom staff, and current management of impreMedia will also remain. In addition, Francisco Seghezzo, former Corporate Planning Director of S.A. La Nación, will join impreMedia as COO.
“Monica Lozano is a highly respected figure in Hispanic media and the Hispanic community. Under her remarkable leadership, she has built a powerful team and a strong portfolio of brands. Her expertise and strategic insights are vital to us as we execute plans for growth and diversification,” continued Mr. Lomanto.
The 2010 Census re-confirmed the undisputed importance of the U.S. Hispanic market. The arrival of a prominent Latin American media company signals the increased confidence of international firms in the exploding U.S. Hispanic media market, and also in an established entity and important player in the industry like impreMedia.
“USHM and La Nación bring both the expertise and resources needed to take us to the next level. La Nación, established as a national Argentine newspaper in 1870, has strong ties with the most important newspapers in Latin America, and is a founding member of the Grupo de Diarios America, an association that includes the most prestigious papers of the region. During the last decade, it has been successful in transforming its profile to also become a top magazine publisher and a digital company with strong product offerings across all platforms, and presence in several Latin American countries and Spain. Their recent award from the Online News Association for ‘General Excellence in an Online News Site’ is a testament to their digital prowess,” said Monica Lozano, CEO of ImpreMedia.
Leading advertisers look to impreMedia to reach the growing Hispanic market. According to Kantar, ten out of the top ten largest advertisers all advertised with impreMedia in 2011. “impreMedia is one of the most innovative media companies there is. We know we can turn to them not only for reach and results but also for ‘the big idea’,” stated Steven Wolfe Pereira, Executive Vice President and Managing Director of MediaVest, MV42.
impreMedia, the No. 1 Hispanic news and information company in the U.S. in print and a key online player, widely known for its top brands such as La Opinión, El Diario and Vista, reaches 25% of all US Hispanics with an audience size of almost 11 million and a footprint in 15 top Hispanic markets. Over the past year it has experienced an unprecedented 34% growth in total audience and has almost doubled its online audience.
Stephens Inc. acted as advisor of impreMedia.