Metro International S.A. ("Metro"), the international newspaper group, today announced that a free daily newspaper will be launched in Bogotá, the capital of Colombia. The newspaper will be launched under the brand name Publimetro during the European fall.
A joint venture company has been created together with Grupo Nacional de Medios ("GNM"), a well established player in the Colombian media market with a long history in the newspaper business. Metro holds 51 percent of the shares in the company, and will receive franchise fees reflecting the value of the services provided to the joint venture.
Colombia is the 4th largest advertising market in Latin America, estimated by Ibope to be worth over US$ 1 billion. 8 million people live In Bogotá, making it the 6th largest city in Latin America. Publimetro will be hand delivered from Monday to Friday at strategic locations to reach the target audience of young affluent Metropolitans.
Per Mikael Jensen, President and CEO of Metro International commented: "I am happy to announce the launch of yet another Latin American market. With Bogotá, we will be present in 7 out of the 10 largest cities in Latin America – confirming our position as the largest newspaper in the fast growing Latin American region with over 1 million daily copies. I am also happy that we will be able to consolidate Colombia, one of the most attractive advertising markets in the region, into our group account.