By: E&P Staff
Phoenix Media/Communications Group, owner of The Boston Phoenix, bought a 35% stake in the Spanish-language Boston-based El Planeta, The Boston Globe reported today. Terms of the deal were not disclosed.
Javier J. Marin, editor of El Planeta, told the Globe the paper can now “‘grow at a faster pace than we expected'” with new printing resources and access to national advertising.
El Planeta, launched in May 2004, is a free weekly paper owned by Hispanic News Press. Forty thousand copies are distributed throughout Massachusetts, Rhode Island, and New Hampshire. The paper has three editions for the area with a few more in the works.
Prior to the deal, the Globe reported the two companies had a prior relationship. Mass Web Printing Co., owned by Phoenix Media, prints El Planeta.