Consolidation in the panregional digital and print media space. Miami Media LLC, a subsidiary of NYC based Manhattan Media which in 2008 bought Latin Trade, announced late last Friday that it has acquired Latin Business Chronicle, an online journal specializing in Latin American business news.
The acquisition adds another publication to Miami Media’s stable, which includes Latin Trade magazine (circ. 40,990, 6 times a year), LatinTrade.com and the Bravo Business Awards. Terms of the deal were not disclosed.
Panregional Business Media
There are several players in the space of panregional business magazines/websites. All of them target the desirable high purchasing power demographic of the Latin American business executive. Many of them, like Latin Trade, are headquartered in Miami, the most important hub for Latin American business in the U.S. Other players in the sector include America Economia (circ. 88,000) and Poder (Poder Enterprise in the U.S. Hispanic market) and other more specialized business publications like Harvard Business Review Latin America.
Division of Latin Trade.com
Latin Business Chronicle, which will become a division of LatinTrade.com, was founded in 2001 as a subscription-based Web site that provides information primarily to an institutional audience: corporations, service companies and governments active in Latin American trade and investment.
“This acquisition marks an important milestone for our readers and marketing clients,” said Miami Media chairman Richard Burns. “No other company can provide the breadth or depth of our multimedia offering of print, online and live events for professionals doing business in the hemisphere.”
“This is a fantastic opportunity for Latin Business Chronicle, which will now benefit from additional resources provided by Miami Media and its assets, especially Latin Trade,” said Joachim Bamrud, editor-in-chief and founder of Latin Business Chronicle, who will continue in the same capacity at the new company. “Thanks to our new home, we expect to achieve even greater editorial quality and commercial success.”
Miami Media is a subsidiary of Manhattan Media, a New York-based community media company (www.manhattanmedia.com). Both companies are chaired by Richard Burns and financed by Isis Venture Partners. Miami Media is managed by its co-presidents: Maria Lourdes Gallo and Rosemary Winters.