PR Newswire has announced its acquisition of Hispanic PR Wire, LatinClips, and Hispanic Digital Network, recognizing the need for highly targeted marketing tools among those who communicate with the influential, fast-growing Hispanic market.
Manny Ruiz, President and co-founder of the Miami-based businesses, as well as the company’s senior management team will join PR Newswire and assume responsibility for creating additional services to benefit the Hispanic marketplace.
“We are very pleased to join forces with PR Newswire because they share our passionate commitment to serving our clients, media partners and the Hispanic community,” said Ruiz, who will remain the company’s president. “The tangible benefits of this partnership will be immediately evident to our clients in the form of 24/7 hours of operation, expanded product offerings and soon to be launched, new communications services.”
“The acquisition of Hispanic PR Wire, LatinClips and Hispanic Digital Network is in line with PR Newswire’s mission to enhance our multicultural services in the U.S. and internationally through a combination of organic development and acquiring leading companies,” commented Charles Gregson, chief executive officer, PR Newswire. “The services of these companies represent a full scale Hispanic communications platform that runs the gamut from Hispanic press release distribution to news monitoring and online marketing. Merging this platform with PR Newswire’s services will allow us to offer marketers and communications professionals unprecedented ROI for all their U.S. Hispanic communications efforts. These businesses are leaders in their space, and we look forward to welcoming them into the PR Newswire family.”
Hispanics are the largest minority demographic in the United States, with an estimated population of 41.3 million, according to the U.S. Census Bureau, one-eighth of the U.S. population. The Census bureau estimates this demographic will grow by more than 1.7 million people each year. U.S. Hispanic purchasing power has surged to nearly $860 billion and is projected to reach $1.2 trillion by 2012, nearly three times the growth of the overall national rate of consumer purchasing power over the past decade, according to The Selig Center for Economic Growth at the University of Georgia.
Today, the U.S. Hispanic media includes over 30 Associated Press-style wire services and news syndicates, more than 550 Hispanic TV shows, over 175 Hispanic cable / satellite TV shows, more than 1,000 Hispanic radio station shows, over 875 Hispanic newspapers, over 625 magazines, and thousands of Hispanic media web sites. In total, the combined forces of PR Newswire and Hispanic PR Wire will reach more than 3,000 unique media outlets and websites that have specific interest in real-time Hispanic news.
Hispanic PR Wire offers unrivaled distribution to key Hispanic media and stakeholders that is targeted, comprehensive and accurate. Through scores of exclusively licensed news partnerships with many of the nation’s leading Hispanic newspapers, magazines and Internet portals, Hispanic PR Wire offers clients more than 100 online placements with any geographic distribution. LatinClips is the nation’s most comprehensive U.S. Hispanic media monitoring and measurement service. Hispanic Digital Network is the nation’s first and largest Internet advertising network of U.S. Hispanic newspapers, magazines and media portals.
Among the senior executive team joining PR Newswire as a result of the acquisitions are Ruiz, an award winning public relations executive and former journalist who routinely counsels senior executives on Hispanic marketing issues; Christine Clavijo-Kish, marketing and public relations expert and co-founder of Hispanic PR Wire and LatinClips; Bill Gato, co-founder and president of Hispanic Digital Network; and Dalia Paratore Salazar, media expert and co-founder and managing partner of LatinClips.
“Clients of all three organizations will continue to experience the high level of customer service they are used to,” said Dave Armon, chief operating officer of PR Newswire. “We know that part of the success of these companies is the close relationships and boutique approach that its principals have taken in building these Hispanic-owned businesses. The clients will now enjoy the benefits of a multinational firm’s communications infrastructure while still receiving the personal service they have grown accustomed to.”
PR Newswire’s acquisition of Hispanic PR Wire, LatinClips and Hispanic Digital Network combined with the company’s July 2007 purchase of Notilog, the leading Latin American Spanish- and Portuguese-language electronic media monitoring and analytics firm, positions PR Newswire as the unparalleled source of communications services that target the U.S. Hispanic and Latin American markets.