ImpreMedia Enters Florida Market with Purchase of Orlando’s La Prensa
ImpreMedia, a publisher of Spanish language newspapers, announced the acquisition of La Prensa,a newspaper based in Orlando.The acquisition was made with proceeds of an $82.5 million credit facility with Goldman Sachs Specialty Lending Group, L.P. This is the fifth company acquired by ImpreMedia, following only one month after its acquisition ofEl Mensajero in the San Francisco Bay area,bringing the company's weekly distribution to more than 1.9 million. Terms of the transaction were not disclosed. Impremedia now has presence in four top Hispanic states: California, New York, Illinois and now Florida.
Population of Hispanic communities of Central Florida passes 847,000 outpacing statewide growth rates, with estimates of Hispanic purchasing power in Central Florida now placed at $13 billion and growing
."We are pleased to add La Prensa to our company," stated John Paton, Chairman and CEO of ImpreMedia.“This is a first step for ImpreMedia into Florida and we hope to expand that presence soon. We add La Prensa, which is distributed across Central Florida, to properties in New York, Illinois, and California, where we have the nation's largest Spanish language daily newspaper – La Opinión in Los
Angeles. ImpreMedia now offers irresistible market reach and an unbeatable nationwide platform of high quality local journalism.”
"My husband and I founded La Prensa more than a quarter of a century ago and we believe that ImpreMedia is the right custodian of La Prensa's history and its future,” stated Dora Casanova de Toro, Publisher of La Prensa.
La Prensa also joins ImpreMedia's Domingo Network, the nation's largest Hispanic residential print network. With the addition of La Prensa's weekly circulation of 50,000 ImpreMedia's Domingo Network will now have a weekly distribution of more than 800,000 in high density Hispanic neighborhoods across
the United States. Between its Domingo Network and paid daily circulation in New York and Los Angeles, ImpreMedia now has a total weekly distribution of more than 1.9 million.
For related articles read: ImpreMedia Buys El Mensajero: The Inside Story
Florida Hispanic print media market profile (Portada January/February 2006 issue)
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