Times Mirror Buys 50% of La Opinion
Times Mirror, the media company that publishes the Los Angeles Times, has agreed to buy a 50% stake in La Opinion, the Los Angeles newspaper that ranks as the nation’s largest Spanish-language daily.
La Opinion and The Times will maintain completely separate staffs and operations, according to executives of both papers.
“Our ties will have been strengthened, but the Times and La Opinion will remain completely independent,” said David Laventhol, president of Los Angeles-based Times Mirror.
Laventhol said the transaction will have no effect on the publication of Nuestro Tiempo, this bilingual supplement published by the Times. Nuestro Tiempo, which is published 15 times a year, is distributed in heavily Latino communities.
The value of the transaction was not disclosed. Laventhol said no additional investment in La Opinion is planned.
La Opinion will retain its Spanish-language format, and executives said no management changes are anticipated as a result of the deal.
Times Mirror publishes seven newspapers, owns a chain of television stations and is involved in magazine and book publishing.