Televisa enters English-language Hispanic magazine market [2-A]
Editorial Televisa bought a majority stake in Hispanic Publishing Corporation of Coral Gables for an estimated $4 million, according to The Miami Herald. The purchase reflects Televisa's interest in expanding its portfolio to include English-language magazines targeting Hispanics.
Televisa is the largest publisher of Spanish-language magazines in the U.S. Its portfolio of 18 Spanish-language titles includes Vanidades (paid circ. 110,000), Maxim en español (paid circ. 50,000) and TV y Novelas (paid circ. 120,000).
With a 51% majority stake in Hispanic Publishing Corporation, Editorial Televisa gains two English-language titles: Hispanic Magazine (lifestyle, circ. 280,000, 10x/year) and Hispanic Trends (circ. 75,000, distributed by the Hispanic Chamber of Commerce; targets Hispanic small business owners, 10x/year).
The new company will be called Hispanic Publishing Associates. Hispanic Publishing Group, led by Hispanic Magazine publisher Sam Verdeja, will retain a 49 percent stake. Portada® estimates that, after the acquisition, Televisa's 2004 annual revenues will be close to US $28 million. Hispanic Publishing Corporation will make up approximately one quarter of those revenues. Guillermo Plehn, director of advertising sales at Editorial Televisa tells Portada® that the acquisition gives advertisers the opportunity to reach both bilingual and English-dominant Hispanics. One factor explaining Televisa's incursion into English-language publishing is the tendency for Hispanics to become bilingual or English-dominant -after the first generation. The loss of Spanish-dominant readers is not entirely replenished by new immigrants.
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