Tribune Publishing, a division of Tribune Company (NYSE:TRB), today announced the sale of Hoy New York, its Spanish-language daily newspaper, to ImpreMedia, LLC. The sale, which is expected to close during the first quarter of 2007, does not include the Hoy publications in Los Angeles and Chicago. Terms were not disclosed.
“Although Hoy New York made good progress over the last year, we did not see a path to profitability in this market,” said Scott C. Smith, Tribune Publishing president. “Hoy is a better operational fit for ImpreMedia, a respected Spanish-language publisher that will carry on Hoy’s commitment to informing and entertaining New York’s widely diverse Hispanic community.”
Tribune will continue to publish Hoy editions in Los Angeles and Chicago, as well as weekly Spanish-language newspapers in Orlando and South Florida.
“In all of our markets, serving Hispanic consumers and helping advertisers reach them is an important part of our publishing growth strategy,” Smith said.
Going forward, the Los Angeles and Chicago editions of Hoy will be more closely aligned with the Los Angeles Times and Chicago Tribune, respectively. Javier J. Aldape, Hoy acting publisher, will now serve as general manager and editor of Hoy’s Los Angeles edition, and oversee shared editorial content in both editions. Julian G. Posada continues as Hoy general manager in Chicago. Anne S. Kelly, Hoy vice president/advertising, will manage national sales and major retail accounts for both editions of Hoy.