Manhattan Media spreads out
Manhattan Media has added Latin American Media Management LLC (LAMM) to its growing list of acquisitions, closely following its early May purchase of 02138.
LAMM — which includes business magazine Latin Trade and the Bravo Business Awards — will be spun off into Miami Media, a separate arm of Manhattan Media. The spin-off idea mirrors the publisher's actions with 02138, which will form the foundation for its new Ivy League Media. Miami Media, and flagship Latin Trade, will focus on business in Latin America, the Caribbean and southern Florida.
Latin Trade, published in Portuguese, Spanish and English, currently reports a monthly circulation of 87,324. Fewer than 10% of readers reside in the US, but Manhattan Media executives have heralded some major growth plans, including an October relaunch of the publication.
“We will work with the best of the old company's staff, talk closely with our readers and advertisers, and invest heavily to support our plans for expansion,” said Richard Burns, chairman of Manhattan Media, in a statement. “The economies of Latin America have performed well in the past few years and, despite the region's traditional volatility, we are bullish on the long-term prospects for the region and those doing business in it.”
Mike Zellner, president and publisher of Latin Trade, will move to a position as Miami Media's editorial director. Other employees will join Zellner in the move. Maria Lourdes Gallo, VP of sales for Latin Trade, will now serve as co-GM of Miami Media, alongside Rosemary Winters, who was most recently director for Latin America at Condé Nast.