WASHINGTON, May 17, 2004 /PRNewswire-FirstCall via COMTEX/ -- The Washington Post Company
(NYSE: WPO) announced today that it had acquired El Tiempo Latino, a leading
Spanish-language weekly newspaper in the greater Washington area. The seller
is Farragut Media Group, Inc., whose principal owner is Armando Chapelli, Jr.,
formerly of Bethesda, MD.
El Tiempo Latino was founded by Chapelli in 1991. It is published on
Friday of each week and has ABC-audited free circulation of 34,000. The
publication was recently named the Best Hispanic Weekly in the United States
by The National Association of Hispanic Publications.
After the sale the publication will remain an independent newspaper,
operated by its current management and editorial team -- Alberto Avendano,
Kristen Shepherd, and Zulema Tijero.
For several years The Washington Post has had an informal content-sharing
relationship with El Tiempo Latino that has included the publication of
relevant Post articles in translation in El Tiempo Latino.
"El Tiempo Latino is an outstanding community newspaper," said Washington
Post publisher Boisfeuillet Jones, Jr., "and it will play a vital role in The
Post's ongoing efforts to reach the growing local Spanish-speaking community.
We are grateful to Armando Chapelli for entrusting The Post Company with the
newspaper that he has so carefully built over more than a decade."
Jones added: "The transaction will help both El Tiempo Latino and The Post
better meet the needs of Spanish-language readers and the advertisers who seek
to reach them."
El Tiempo Latino founder Chapelli said: "Our mission at El Tiempo Latino
has been to construct a bridge to Washington's mainstream community by
providing timely, useful news and information to our readers as they become
part of this great nation. To us, this acquisition by The Washington Post
Company represents an important step in creating that bridge, and symbolizes
the growing stature of our Latino community. It is a tribute to our staff and
to our readers to have been asked to join the family of one of America's most
trusted and respected publishing companies."
Chapelli also owns Washington Consulting Group, which he established in
1979. The firm provides air traffic control training services to the Federal
Aviation Administration as well as private sector clients
The Washington Post Company (NYSE: WPO) is a diversified media and
education company whose principal operations include newspaper and magazine
publishing, television broadcasting, cable television systems, electronic
information services, and educational and career services.
SOURCE The Washington Post Company
Eric Grant of The Washington Post Company, +1-202-334-6466