Latina Magazine Receives $20-Million Investment

Latina Magazine received a $20-million equity investment that the New York publication will use to expand into online, broadcast and other print content. Latina, a bilingual lifestyle magazine founded four years ago by publisher Christy Haubegger, reaches a million readers and saw its ad revenue grow by 70% in 1999. It recently published its first book--”Latina Beauty”--and had been mulling over an online play.

The investment, by Solera Capital, will create Latina Media Ventures--a parent company to Latina Magazine. Solera Capital was established last year by Grove Street Advisors--which invests funds for CalPERS--and Chase Capital Partners. Solera means “cornerstone” in Spanish.

Haubegger will become chief executive of Latina Media Ventures and will retain part ownership, as will Essence Communications Partners, a key shareholder in Latina Magazine.