Metro invites media investment
Metro International is interested in finding partners in Central America, for the publication of free, urban daily newspapers. The Swedish-based media group this week announced a joint venture agreement in Guatemala with Grupo de Emisoras Unidas ("GEU") of Guatemala, which will be a platform to develop future investments in Central America, according to Mikael Jensen, President and CEO of Metro International. Metro holds a 25% interest in the venture, with an option to increase its share.
The Metro-GEU venture last Tuesday produced the first edition of "Publinews", distributed in Guatemala City, with an initial press run of 84,000 copies, hand delivered Monday to Friday in strategic locations. The venture's revenues will come from the advertising market of Guatemala City, valued at close to $100 million per year.
Guatemala is the fifth country in Latin America in which Metro publishes, along with Chile, Mexico, Brazil and Ecuador.
Founded in 1995, Metro had as of the end of 2009, 56 daily editions in 18 countries, in Europe, the Americas and Asias, with a daily readership of more than 17 million readers.
- Advertising agencies