PRN purchases Hispanic media services for $5.5m

NEW YORK: PR Newswire has acquired Hispanic PR Wire, LatinClips, and Hispanic Digital Network for $5.5 million.

NEW YORK: PR Newswire has acquired Hispanic PR Wire, LatinClips, and Hispanic Digital Network for $5.5 million.

The deal unites two long-time newswire-service competitors.

"We have been arch rivals with [PRN] for years," said Manuel Ruiz, president and cofounder of the acquired companies. "[It] was a compelling idea. [PRN] has so many products and services just waiting to be 'Hispanicized.'"

PRN purchased Notilog, a Spanish- and Portuguese-language electronic media monitoring firm, in July 2007. It also partnered with CSRWire in November.

"The definition of the audience is different than it was years ago," said David Armon, PRN COO. "We're interested in providing nano-targeting so that [any sized] audience can be reached."

Hispanic PR Wire has had a seven-year relationship with Business Wire. Neil Hirshberg, SVP of global media for BW, would only say that the company is "evaluating [its] options" for the existing contract. Both Hispanic PR Wire and PRN are willing to continue that relationship.

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