» What is going on at CNN en español?
Several months ago CNN announced that it was expanding its Hispanic offerings both in TV and online under the new leadership of Cynthia Fernandez Hudson. Only three weeks ago it welcomed three new anchors into the network: Fernando del Rincón, Camilo Egaña and Mercedes Soler. Now Mediamoves reports that not all is good news. Apparently further restructuring will be costing some employees their jobs. On October 28, employees were told that all positions in Atlanta were being eliminated. “Staffers were told new positions were being created and that all current employees would have to reapply for the new jobs….staffers will be told within the next 2-3 weeks, who will stay and who will be given a severance package.”
» Interpublic Group’s Mediabrands Strategy
Paidcontent reports that Mediabrands head Matt Freeman is going to announce some additional promotions both in the U.S. and abroad that will signal a change in the traditionally “siloed” agency culture. “Mediabrands ventures represents trading desks like Cadreon and Reprise, and Geomentum. They’re all reflective of the fact that the advertising industry requires much greater specialization across a broader set of services. At the same time, our clients want us to deliver these services seamlessly as a bespoke solution that best suits their particular business.” Another aspect Freeman emphasizes is on an agency’s ability for audience creation. “Audience creation is a crucial weapon in the arsenal to create ad effectiveness.” Freeman notes that a cornerstone of Mediabrands’ strategy is to expand in Emerging Markets with a particular focus on Brazil and India.”
» Palladium Equity, the New York private equity house who is an investor in Hispanic parenting media company Todobebe, just completed the sale ofCastro Cheese Co. toDairy Farmers of America (DFA). Pehub reports. “We are thrilled with the successful outcome of the Castro Cheese transaction,” said Luis Zaldivar, Managing Director of Palladium. “Since the acquisition in August 2007, Castro Cheese has successfully targeted major retailers such as H.E.B., Wal-Mart, Fiesta Mart, Kroger and Costco, where they have launched several new Hispanic cheese products under the brand ‘La Vaquita’ and pursued geographic expansion beyond Texas. We are proud to have partnered with management on what has been an outstanding investment, and we are confident that DFA is well positioned to support the Company’s continued growth.”