According to its press release, Meximerica Media, a U.S-based Spanish-language newspaper publisher, announced today the launch of Rumbo (pronounced room-bo), a new network of Spanish-language daily newspapers throughout the United States. The first four publications will be distributed beginning at the end of the second quarter of 2004 in select Texas locations including Houston, San Antonio, Austin... The newspaper design is being led by Roger Black of the US-Mexican firm Danilo Black. Meximerica Media has been acquired by Recoletos Grupo de Comunicacion S.A, one of the major media group in Spain.
Rumbo, the Spanish word often associated with the Latin American phrase meaning "heading north for a better life," will be a highly designed, service-oriented, daily tabloid built around local news and a core of common content through modular publishing. The publication is primarily aimed at Hispanic men and women between the ages of 21 and 45, and will include relevant Mexican, U.S. and international news, as well as sports, entertainment and lifestyle content. "The introduction of Rumbo in primary Hispanic markets throughout Texas is an important first step in our longer-term strategy to distribute a national newspaper targeted exclusively for the Spanish-speaking American population," said Chief Executive Officer and Editorial Director of Meximerica Media, Edward Schumacher Matos. "Our highly experienced management team is poised to service the largest and most rapidly growing minority market in the United States by representing the interests, lifestyle and culture of our readers unlike any other Spanish or English newspaper in circulation today." Meximerica Media has been acquired by Recoletos Grupo de Comunicacion S.A. (MCE: REC.MC) and received a first tranche of $16.5 million this year in order to fund the launch of its first four newspapers. As part of the investment agreement, Meximerica could receive additional capital from Recoletos beginning in 2005 to continue building the four papers in Texas and to launch new newspapers in other U.S. states. Recoletos is a separately listed, Spain-based company whose principal shareholder is Pearson Plc. (NYSE: PSO - News), the international media company. "We are thrilled to be involved in this venture to advance the quality of news for the growing Hispanic population comprised of more than 39 million Latinos in the United States," said Jaime Castellanos, Chairman and CEO of Recoletos. "Our investment in Meximerica enables us to build on our established presence in Spain, Portugal, Argentina and Chile and now expand into the dynamic U.S. market." Jonathan Thompson, former CEO of the newspaper advertising and consulting firm Sawyer Ferguson Walker, is COO of Meximerica and head of advertising. ABOUT MEXIMERICA MEDIA Meximerica Media is a U.S.-based publishing company and the creator of Rumbo, a network of Spanish-language daily newspapers targeted at the underserved Hispanic-American population throughout the United States. The Company was formed last year by a group of media professionals with extensive experience in the relevant editorial, publishing, commercial and financial fields. More information about the Company is available at www.meximerica.com. ABOUT RECOLETOS GRUPO DE COMUNICACION S.A. Recoletos Grupo de Comunicacion is a big multimedia group, focused on specialized contents, in the Spanish and Portuguese speaking markets. Based in Madrid, Recoletos publishes the leading business newspapers and magazines in Spain, Portugal, Argentina and Chile as well as Marca, one of the world's biggest-selling sports dailies which has seven local editions in Spain, and Telva, the most profitable women's fashion magazine in Spanish. Recoletos is listed on the Madrid stock market and its principal shareholder is Pearson Plc. Source: Meximerica and Yahoo Finance.