Argentina's La Nación Becomes Major Shareholder in ImpreMedia

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WASHINGTON, D.C. – After months of negotiations, impreMedia today announced an agreement with US Hispanic Media Inc. (USHM) that will open editorial bridges between Latin American and North American markets.

Under the new arrangement, USHM, a subsidiary of S.A. La Nación, will become a majority shareholder of U.S. Spanish-language media giant impreMedia. The deal seeks to maximize the conglomerate's long expertise and relationship with U.S. Latino and local markets, with the goal of developing new products and expanding the audience.

impreMedia includes the multiplatform publications La Opinión, El Diario/La Prensa, Hoy, La Raza, Rumbo, La Prensa of Orlando, Vista Magazine, and La Vibra. The company estimates that 25% of U.S. Hispanic adults use its products.

ImpreMedia's Chief Executive Officer Mónica Lozano will remain in her current position, while impreMedia's staff will continue to direct and control editorial content.

Francisco Seghezzo, former director of corporate planning for S.A. La Nación, will become the new chief operating officer.

"This is a strategic alliance with a well-established media company in Argentina," said Lozano, adding that USHM's interest in impreMedia "is a sign of confidence in the company and its leadership.

"They [USHM] bring pretty significant knowledge of how to reach different audiences with various platforms, using new media. For us that's relevant, because we have diversified this company for years. This alliance helps us speed up the transformation, which is already a part of impreMedia."

Lozano explained that impreMedia and USHM have formed a new company that will bring resources to stimulate growth in the market. "With this association, we can do things faster and reach further," she said.

The priority right now is ImpreMedia's digital platform.

"After this, I hope that at some point we can sit together and publicly announce big plans for impreMedia, but right now we're focused on the partnership and communicating that two companies are joining forces to serve this market better," Lozano said.

Eduardo Lomanto, the president of USHM, also discussed the benefits of the new alliance.

"impreMedia has a strong history of high-quality content, of understanding how to deeply connect with its audience and with local brands that resonate with the communities it serves, through a great knowledge of the market and a close relationship from a business perspective," Lomanto said.

"These elements represent an exceptional platform for the development of new products, in order to attract additional audiences and become the first choice for advertisers that want to reach the Hispanic market in the United States," he added.

According to market research company Kantar, the 10 largest advertisers in the U.S. Latino market advertised with impreMedia last year. The 2010 Census showed that the country's Hispanic population reached 50.5 million.

Amid these growing numbers, a U.S. presidential electoral cycle and an increasingly competitive Latino market, impreMedia and USHM have arrived at a deal that could bolster the company's presence in the industry.