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Execs at La Opinión sent over word that their owner, ImpreMedia, has acquired the #1 Spanish-language paper in the Bay Area, El Mensajero. Already the biggest Spanish-language newspaper publisher in the U.S., ImpreMedia now is in Los Angeles, New York, Chicago and San Francisco. "We're very excited," the email says. The release follows.
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Covering the dump people
ImpreMedia Acquires El Mensajero
The San Francisco Bay Area's #1 Spanish Language Newspaper
First Acquisition with Proceeds of Goldman Sachs FacilityIMMEDIATE RELEASE
New York, N.Y. (December 16, 2005) – ImpreMedia, LLC, the nation's leading publisher of Spanish language newspapers, announced today the acquisition of El Mensajero, the San Francisco Bay Area's #1 Spanish language newspaper. The acquisition was made with proceeds of an $82.5 million credit facility with Goldman Sachs Specialty Lending Group, L.P.
"We are pleased to add El Mensajero to our company," stated John Paton, Chairman and CEO of ImpreMedia. "By adding the San Francisco Bay market we can now provide advertisers with a footprint in four of the top 10 markets, representing over 35% of the U.S. Hispanic population, or almost 15.5 million Hispanics. We also open the door to greater cooperation between El Mensajero, which is distributed weekly in Northern California, and La Opinión, the nation's largest Spanish language daily newspaper, which serves Southern California."
"We are really excited by the opportunities that ImpreMedia provides for our readers, advertisers and employees," stated Brad Westerhold, Publisher of El Mensajero. "They share our commitment to the Bay Area Hispanic community and to locally produced, high quality, Spanish language journalism."
"California is home to more Hispanics today than any other state and the number of Hispanics living in California has increased by more than any other state. We are thrilled to have a partner like El Mensajero help us serve this large and rapidly growing market," stated Mónica Lozano, Senior Vice President of ImpreMedia and Publisher and CEO of La Opinión. "The ability for newspaper advertisers to directly reach Hispanics in both Northern and Southern California through one Spanish language buy is an opportunity whose time is long overdue."
El Mensajero also joins ImpreMedia's Domingo Network, the nation's largest Hispanic residential print network. With the addition of El Mensajero's audited weekly circulation of 111,564, ImpreMedia’s Domingo Network now distributes 750,000 free publications each week in high density Hispanic neighborhoods. Between its Domingo Network and paid daily circulation in New York and Los Angeles, ImpreMedia now has total weekly distribution of over 1.8 million.
"ImpreMedia's newspapers and customized sales programs offer national advertisers the ability to bring their message to millions of Hispanics with a reach and cost that is competitive with both English and other Spanish language media," stated Erich Linker, Senior Vice President National Advertising. In the Los Angeles market, for example, according to Scarborough Research, the average issue of La Opinión reaches more people than one prime time ad on the local Univision station, three times as many people as one prime time ad on the local Telemundo and Telefutura stations combined, and more people than one drive time ad on each of the top four Spanish language local radio stations combined. "It is for reasons like these that ImpreMedia has grown its national and overall advertising revenues this year at a rate that is in line with Spanish language broadcast and several times faster than the general newspaper market," added Mr. Linker.
Terms of the transaction were not disclosed.
About ImpreMedia
ImpreMedia is the leading publisher of Spanish language newspapers in the U.S. The company publishes El Diario La Prensa and El Diario Contigo in New York, El Mensajero in the San Francisco Bay Area, La Opinión and La Opinión Contigo in Los Angeles and La Raza in Chicago, the number one Spanish language newspapers in each of their respective markets.