ImpreMedia Buys Hoy's New York Edition from Tribune Co.

I just received the e-mail announcing the following development in the Spanish-language media business:

"ImpreMedia, LLC, the nation's leading Spanish-language newspaper and online news publisher, announced today it has agreed to acquire Tribune Company's New York publication, Hoy, and its related weekend publication in New York, Fin de Semana. The pending acquisition does not include the Hoy publications in Los Angeles and Chicago."

Hoy, which was plagued by the Tribune Co's circulation scandal a few years ago, has struggled to compete with the larger El Diario/La Prensa in the New York media market. Plus, ImpreMedia's leadership is driving one of the most energetic campaigns to create a national Hispanic print media empire, and so far it appears to be very successful.

Another rationale: "Based on Scarborough research, the combined readership of Hoy New York and El Diario La Prensa will allow ImpreMedia to deliver nearly twice the number of Spanish-preferred adults as New York's leading Spanish-language TV station, owned by Univision, and nearly three times more than New York's leading Spanish-language radio station."

As long as the quality of reporting and resources for consumers remains strong, perhaps the consolidation of the two papers is a good thing from the perspective of advertisers in the New York media market looking to reach the largest number of consumers.

I'll be on the look-out for reactions to this sale and will share them here on the blog.

Click [here] for the full press release about the sale.

- Adam