Argentina’s La Nacion in Talks to Buy ImpreMedia

Story tools

A A AResize



Portada reports that prediction Nr. 9. (“ImpreMedia will be acquired”) of Portada’s 2012 Hispanic Marketing and Media predictions may happen soon.

Two news sources (New York Post and New York One) report that Impremedia is now in talks with Argentine newspaper group La Nacion, which is interested in acquiring it.

ImpreMedia is the publisher of New York’s El Diario La Prensa and Los Angeles' La Opinion as well as several websites and weekly newspapers including Chicago’s La Raza and San Francisco's El Mensajero. La Nacion, based in Buenos Aires, is Argentina’s second-largest daily newspaper and also has interests in magazines, online and printing businesses. La Nacion is a member of Miami-based Grupo Diarios America.

La Nacion is paying attention to the outcome of negotiations between ImpreMedia and staffers at El Diario/La Prensa, represented by the Newspaper Guild, who are expected to vote this week on whether to ratify a new union contract between ImpreMedia management and union leaders.

Meanwhile, Portada reports that Impremedia investors Clarity Partners, Halyard Capital Fund, ACON Investments and Knight Paton Media have been looking for an exit. Daniel Jinich, one of Washington, D.C.-based Acon Investments managing partners, now sits on Impremedia’s board.

Acon was an investor in DeRemate, an online auction site in Latin America that in 2006 was sold to La Nacion. It is not known whether Acon would take an active role in La Nacion’s purchase of ImpreMedia.

Read more