What: Magazine publisher Televisa is pulling the plug on its Puerto Rico operations as of December 5 leaving about 50 workers jobless.
Why it matters: Puerto Rico is a major media and advertising market. Having a major publisher like Televisa fold the local Puerto Rican editions of many of its magazines is a significant and telling move.
Televisa’s editorial management from the Mexico-based company has taken employees , who work in local publications of that company, by surprise after announcing the closure of operations in Puerto Rico, effective December 5.
Approximately 50 workers will be left jobless after the closing of the offices that produce the publications locally. These magazines include Caras, TV y Novelas and Vanidades Puerto Rico. These magazine are also published digitally.
Executives from Televisa Publishing and Digital offices in Mexico gathered all employees to notify them of the closure..The news came as a surprise as nothing like that was expected, especially because of Televisa’s recent promotional activities related to Caras magazine’s 25th anniversary, a celebration that took place at El Convento en Viejo San Juan hotel.
No local personnel were authorized to issue official statements on the closure of Televisa Publishing’s Puerto Rico operations.