Impremedia has a new owner, effective immediately.
My Code has acquired a majority ownership interest in the parent company of La Opinión in Los Angeles, El Diario in New York, La Raza in Chicago and La Opinión de la Bahía (formerly El Mensajero) in San Francisco.
The companies did not provide financial details of the transaction.
Impremedia is My Code’s second content platform. It also owns Hip Latina.
Impremedia, created in 2003 with the merger of La Opinión (founded in 1926 by Ignacio E. Lozano, Sr.) and El Diario with the idea of creating the largest Hispanic newspaper chain in the U.S., did a series of quick acquisitions of smaller newspapers to grow its network, but ultimately was hit hard by the downturn in the newspaper industry and the recession.
The beleaguered company was acquired by a subsidiary of Argentina’s La Nación in March 2012. But labor turmoil and financial problems plagued the media company for years as restructuring, pulling the plug on print publications and layoffs shrunk the size of its staff.
Iván Adaime, CEO of Impremedia, will continue to lead Impremedia’s media brands.
According to a My Code statement, “all of Impremedia’s employees have been asked to continue with the company and help drive an exciting next phase of growth in civic journalism, local and national service and digital expansion.”
Impremedia has a series of digital media outlets that include Solo Dinero, Siempre Auto, Comedera, Estar Mejor, Bien Bonita, No Muy Caro and La Vibra. According to the company, these brands attract more than 35 million monthly users worldwide.
