By: E&P Staff Metro International S.A., the big international publisher of free commuter papers, is launching an edition in Mexico City this spring, the company announced.
Luxembourg-based Metro said it has established Publicaciones Metropolitanas, S.A. de C.V., as a franchisee in Mexico. Metro owns 35% of the company, with 35% owned by MXSHARES, S.A. de C.V., and 30% by Immobilaria Torraco, S.A. de C.V.
Metro said it will also receive franchise fees in the joint venture, reflecting its publishing expertise and licensing of the Metro name. It said it has an option to increase its stake in the company in the future.
MXSHARES is owned by a group of investors related to GBM, Grupo Bursatil Mexicano, S.A. de C.V., which Metro said is one of the largest securities brokerage firms in Mexico. Immobiliaria Torraco is a private company managed by Antonio Torrado, a member of the Torrado family which also holds franchise licenses for brands such as Burger King, Starbuck's, and Domino's Pizza.
"We have been looking at the Mexican market for a number of years and seeking the optimal structure for the development of Metro into what is one of America's largest and fastest growing city advertising markets," Metro President and CEO Pelle Tornberg said in a statement. "We now have strong and well-connected local partners, which should accelerate the development of the business. We have enjoyed a successful track record in other South American markets and this expansion will extend our regional footprint even further."
Metro publishes 61 papers in 19 countries in Europe, North and South America, and Asia. Its papers are published in 18 languages.
In the United States, it publishes commuter papers in New York, Philadelphia, and Boston.
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