What: Cox Media Group (CMG) announced the sale of Mundo Hispánico to Mundo Hispano Digital Network (MHDN). MHDN is led by by former Georgia State Senator Sam Zamarripa. Entrepreneurs Rene Alegria and Marcos Gonzalez are also MHDN investors.
Why it matters: In May of this year CMG announced plans to sell Mundo Hispánico, Atlanta’s largest Spanish-language newspaper. The transaction reflects a wider trend through which Cox Media Group is selling many of its non-strategic newspaper and digital media holdings.
Four months ago, Cox Media Group revealed plans to sell Mundo Hispánico, a Spanish-language newspaper founded in 1979 to serve the Hispanic community in Atlanta. Today, CMG announced the new home of the newspaper: Mundo Hispano Digital Network (MHDN), a tech-focused media company intended to tackle the needs of the U.S. Latino community through digital content, will take over the management of Mundo Hispánico. MHDN is led by former Georgia State Senator Sam Zamarripa, now CEO of Intent Solutions of Atlanta, the Atlanta Business Chronicle reports. Zamarripa is buying the newspaper and its website along with two partners: Marcos Gonzalez, founder of Vamos Ventures, which invests in early-stage tech companies led by Hispanic and other diverse founders, and digital media entrepreneur Rene Alegria.
“Mundo Hispánico has long served as a dynamic and trustworthy news source for the Latino community in Atlanta. That solid foundation, coupled with our mission to strengthen Atlanta’s position as a center for Hispanic media in the country, really solidifies this acquisition. It makes perfect sense for us and we’re excited to get started,” said MHDN president and CEO Rene Alegria (photo) who has recently been appointed to that position.
Mundo Hispánico is the third most popular Spanish-language news website in the U.S., serving cities like Los Angeles, New York, Atlanta, Houston, Dallas, San Antonio, Chicago, Washington D.C., and Miami. In 2014, it partnered with local search provider YaSabe to form Mundo Local.