Cuatro Media Going Through Difficulties

Cuatro Media, the license holder and publisher of Fox Sports en español is shutting down its operations, Portada has known from a reliable source. Calls to the company’s executives in New York City were not returned.

Cuatro Media’s operation in Buenos Aires, Argentina, is being dismantled. So is the office in New York where Fox Sports en español publisher, Jeffrey Duque, as well as Luis Vinuales, the company’s CEO worked.

Since 2005 Cuatro Media had a license, through an agreement with News Corp. owned Fox PanAmerican Sports, to publish Fox Sports en Español in the U.S. Hispanic market and Latin America. The magazine was introduced in 2006 and published as an insert in the main Hispanic newspapers nationwide. Its circulation was 750,000. Cuatro Media paid newspaper publishers an insert fee (between $40 and $70 per thousand copies) to carry Fox Sports en español. The magazine was printed by Brown Printing.

The sports magazine was also briefly published in Puerto Rico, Dominican Republic and Mexico. Fox Sports en español also contributed some content to MSN Latino’s sport channel which FSE has a partnership with FSE.

Cuatro Media also published books and other supplements in the Children (e.g. Abrete Sesamo), health and beauty (Weight Watchers Diet), sports (e.g. Barca Toons) and education-scientific (Enigmas del Mundo) categories. These books were mostly distributed through Latin American and Spanish newspapers and magazines.

Cuatro Media also had tested Con Tu Familia earlier this year, a magazine targeting the Hispanic family.

The process

Initially Cuatro Media was evaluating whether to suspend publication of Fox Sports en español in 2009 and relaunch it in 2010 for the Soccer World Cup in South Africa. (The men’s magazine category, to which Fox Sports en español belongs has been particularly hard hit due to the sharp drop in automotive advertising as a result of the meltdown in Detroit). However, investors in Cuatro Media took the decision to stop financing the company and call it quits. The main investors in Cuatro Media are Savoy Capital, a Houston based private investment firm led by Frank Lorenzo, and another investment fund.

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