New private equity backed online media company My Code, based in California, has acquired a majority shareholding in Impremedia, of New York. My Code has a multicultural focus while Impremedia focusses on Spanish language news across the Americas. My Code now becomes the second ranked owner of Spanish language services in the Americas after TelevisiaUnivision (which this week has also been acquiring, see separate story).
The brands included in the deal include: La Opinion, El Diario and other regional Spanish language titles within the US. The portfolio claims to reache 35m users a month and estimates of the deal price are around $10m. Although the Spanish speaking Hispanic market operates within its own niche, much of its audience is bilingual and – as with mainstream media – there has been pressure on subscriber numbers and margins and fierce competition among news outlets.