La Opinión/Lozano Family and CPK Media Announce Creation of First National Latino Newspaper Company

Company names Mónica Lozano as new publisher and CEO of La Opinión

LOS ANGELES -- (January 15, 2004) La Opinión's owners, the Lozano Family, and CPK Media have announced they are combining forces to form the first ever national Spanish-language newspaper company in the United States targeting the growing Hispanic population. The new company, ImpreMedia LLC, brings together La Opinión and El Diario/La Prensa, the leading Spanish-language daily newspapers in Los Angeles and New York, the two largest Latino markets in the country.

"Our vision is to create a national group of Latino newspapers that covers issues impacting our community nationally, regionally and locally on a hard hitting and timely basis. We understand very clearly that while we speak one language, we are not one culture, and our newspapers will reflect and respond to the nuances of our distinct communities throughout the country," said Jose Ignacio Lozano, new vice chair of ImpreMedia. "In CPK Media, we have found the best partner to form this new company. Together, we will be able to establish an effective platform with national scope for advertisers and marketers who wish to use the power of newspapers to reach the rapidly growing and influential Latino market."

CPK Media Holdings is the private investment group led by Clarity Partners, BMO Halyard Partners, ACON Investments and Knight Paton Media. The company acquired El Diario/La Prensa in July 2003.

"Bringing together the two oldest and most prestigious Spanish-language newspapers offering the greatest reach in the two largest markets automatically makes Impremedia the leading Latino newspaper company in the country," said Steve Rader, a managing general partner of Clarity Partners and chairman of Impremedia LLC. "We are particularly pleased to be working closely with the Lozano family, one of the most respected and experienced families in Spanish-language journalism."

The management team of ImpreMedia is also pleased to name Monica Lozano, current La Opinión president, as the new publisher and CEO of the newspaper as well as senior vice president of ImpreMedia.

"The opportunities this new company presents for La Opinión and its readers allow us to lead on a national level," said Monica Lozano. "We are going to be able to offer advertisers national reach utilizing new platforms and dynamic promotional programs, and we will continue to be our readers' most authoritative source of news and opinion."
La Opinión was established in Los Angeles in 1926. Through 77 years of serving its readers and advertisers, La Opinión has continued to grow and evolve into one of the most influential newspapers for the Hispanic community in the U.S. La Opinión's growth has mirrored the rise of the Latino population in Los Angeles and the state of California. It is now the largest Spanish-language daily newspaper in the nation with more than 427,800 daily readers serving the more than 7 million plus Latinos throughout Southern California. "The combined resources of a national group of leading Spanish-language newspapers will allow each paper to serve its distinct readers and advertisers more effectively," said Rossana Rosado, publisher and CEO of El Diario/La Prensa.

Established in 1913, El Diario/La Prensa has been serving New Yorkers for 90 years. It is the oldest and one of the most respected Spanish-language newspapers in the country. With daily readership of 297,500 serving the more than 3 million Latinos in the New York area, it is the most read Spanish language daily in New York. Clarity Partners is a Los Angeles based private equity firm with $800 million incommitted capital focused on investments in media and communications. Mr. Rader had previously been instrumental in acquiring and building Univision, the country's largest Spanish-language television network.

BMO Halyard Partners is the New York based private equity investment arm of BMO Financial Group. Halyard invests in media and communications companies located in the United States, Canada and Western Europe through Halyard Capital Fund L.P., with $450 million in committed capital.

ACON Investments is a diversified private equity firm based in Washington, D.C. with more than $400 million of capital under management. ACON has portfolio investments in the United States, Latin America and Europe and, among its activities, is affiliated with Texas Pacific Group, one of the leading private equity groups in the world.
Knight Paton Media Corporation is a newspaper investment consulting practice advising private equity firms.