Cox Media Group posted a statement on the company website about plans to sell Mundo Hispanico. It was posted the day I posted this blog.
Sources with Mundo Hispánico say they need to start looking for jobs, because the digital site faces a shutdown. They got the bad news in an email Monday morning from the President of the Cox Media Group (CMG) which owns Mundo Hispánico.
The announcement came from Kim Guthrie, President of Cox Media Group. Her email partly reads…
CMG is focused on overcoming the disruption in our industry and competing to win in the markets we serve. To achieve that, we are focusing our resources on businesses that have clear paths to profitability and long-term growth.
She goes on to say…
…After careful consideration, we’ve decided to sell or sunset both the Mundo Hispanico and Southern Kitchen businesses.
Her email mentioned CMG is looking for the right buyers.
…we will work to find the right owners for Mundo Hispanico and Southern Kitchen. If we are unable to find a buyer, we plan to close Southern Kitchen and the national Vertical portion of Mundo Hispanico by the end of the quarter.
You can read the rest of the email provided to me from a few sources.
Reporters in Atlanta, Houston, Dallas, San Antonio, Los Angeles, Orlando, and one in North Carolina are expected to lose their jobs. There are also other journalists at the headquarters in Atlanta who will also be shown the door.
According to a source, the national correspondents for the digital site could be out of work by the end of June and the ones in Atlanta may get a few more months on the job.
— MundoHispánico (@MundoHispanico) February 23, 2018
I hope a good media company buys Mundo Hispánico, because the digital site has a good following on social media. More than four million followers on Facebook.
I have contacted CMG for a response. I’ll keep you posted.
If you have any job openings please send them my way. Let’s help these people out before the possible shutdown.
Cox Media Group