Impremedia, publisher of Spanish-language newspapers, has a new owner. & More News Here

Impremedia, proprietor of some of the most important Spanish-language each day newspapers throughout the United States, has bought itself to a private-equity-backed start-up that goals to money in on the rising demand for multicultural audiences.

Impremedia, which runs publications based within the early twentieth century like El Diario in New York and La Opinion in Los Angeles, is being acquired by My Code, an promoting community in Santa Monica, Calif., geared toward entrepreneurs in search of Hispanic, Black, Asian American and Pacific Islander customers, executives from each corporations stated.

Impremedia and My Code declined to offer a worth for the deal. An individual acquainted with the sale stated My Code had paid greater than $10 million.

The deal marks one other chapter within the turbulent historical past of Spanish-language newspapers within the United States, many of which have shut down in latest many years as print income has light and digital upstarts have capitalized on advertiser demand for Hispanic audiences.

Once, many main U.S. cities had a each day newspaper geared toward Spanish-speaking readers, stated Ken Doctor, a longtime media analyst and chief govt of Lookout Local, a media start-up in Santa Cruz, Calif. Some English-language newspaper publishers, together with the previous homeowners of The Chicago Tribune, began Spanish-language editions to succeed in new audiences and enhance promoting income.

But the consolidation and cost-cutting which have winnowed the ranks of English-language metropolitan dailies have additionally depleted Spanish-language publications, Mr. Doctor stated.

“Just as mainstream daily metros have struggled with what it meant to be a digital publication, I think that’s true largely of the Hispanic press,” Mr. Doctor stated.

Parker Morse, the founder and chief govt of My Code, stated in an interview that he aimed to increase the life of Impremedia’s print enterprise whereas growing its digital income, which has been a vibrant spot for the corporate. He stated the deal would assist the corporate attain Hispanic Americans who “live between two worlds,” looking websites like El Diario alongside ESPN, TMZ and CNN.

“I think roughly two-thirds of Hispanic consumers are bilingual, consuming both English- and Spanish-language content,” Mr. Morse stated. “And so while it may not be a hundred percent of that demographic, it’s a big piece of that.”

Impremedia was based in 2003 by John Paton, an entrepreneur who went on to change into the chief govt of Digital First Media, the newspaper chain managed by the hedge fund Alden Global Capital. Mr. Paton, who’s now chairman of The Independent, a information publisher in London, purchased El Diario and different titles together with his companions to construct a Hispanic-news conglomerate. It was acquired by a subsidiary of the Argentine newspaper La Nación in 2012.

Iván Adaime, the chief govt of Impremedia, stated in an interview that the corporate’s titles have been a very important useful resource for readers who didn’t communicate English or whose points have been ignored by the English-language press. Mr. Adaime, an immigrant from Argentina, stated he would keep on after the deal closed.

“I’m very committed to that mission,” Mr. Adaime stated. “It’s a mission that was there before I was born, but it’s a mission that resonates very well with me.”