Losses Stopped at Latin Media House, Former Casiano Communications Inc.
Like a Phoenix from the Ashes: First Operating Month Under New Leadership Ended with Positive Cash Flow
BY MARIO BELAVAL DÍAZ
The ambitious media project known as Latin Media House (LMH), under its new leadership, is making quick progress turning the company around. LMH CEO Heiko Faass said the new entity, publishers of Caribbean Business, Imagen, Buena Vida, and other publications, had a very positive start in its new life with the aggressive restructuring concept showing almost immediate results.
“We have been able to immediately stop major bleeding and problems, and have achieved our first month with a small but positive cash flow. There is still a long way to go, but we are very happy with what we have achieved in a matter of four weeks,” said Faass, who is running the company on an interim basis until the already selected management team takes over.
Among the immediate changes, readers of Caribbean Business have been witnessing cosmetic changes for several issues now, most visibly to the business newspaper’s cover page. In addition, content is being expanded and a focus on quality journalism is being implemented by Executive Editor Philipe Schoene Roura and his team, which was recently expanded with a prominent new member—Ismael Torres, who ran Associated Press for 18 years in Puerto Rico—and joined LMH as a Senior Politics Editor, focusing on expanding coverage into politics topics. A main point here will be coverage of U.S. mainland and Puerto Rican elections.
Before the end of the year, Caribbean Business’ digital presence will also have been relaunched and drastically enhanced. To make a point of the company’s focus on digital, the Dec. 24 issue will be launched digitally only, a first in CB’s 40-plus years of history. In several promotions over the past weeks, visitors of the highly frequented Popular Center in San Juan’s Hato Rey district received the latest edition of CB at lunchtime, right off the press.
“The feedback of our readers is simply fantastic,” Faass said. “Not only do we receive countless comments about our fresh new look, but people also acknowledge and dig our focus on quality content and eff orts to provide extra value when they give us their time to read us.”
Readers of the company’s flagship publications, Imagen and Buena Vida, who received the most recent December issues, were also in for a surprise. The relaunch of those magazines is fully underway under the direction of Lifestyle Executive Editor Daymar Torres, and the latest issues look like any other leading international publication on newsstands at airports in New York, Paris, London, and Berlin. The covers and inside pages have been completely redesigned, the photo language improved and, before the end of the year, both publications will be available in digital format.
“Any of these new editions, even I would buy,” Faass continued. “The new Imagen is on par with any Vanity Fair, Vogue or such magazine, and Buena Vida has become a very appealing product for anybody interested in health and well-being— and all are being produced in Santurce, Puerto Rico, for the world.”