Two of North Carolina’s largest privately held media companies have announced plans for a joint venture to better serve the state’s burgeoning Hispanic population with local news, information and entertainment programming.
CBC and the Que Pasa Media Network will share resources and explore joint, local news and business opportunities under the new arrangement, executives from both entities announced. Financial details were not disclosed.
“We believe this joint venture is a logical step in assisting Hispanics throughout North Carolina,” said Jim Goodmon, president and CEO of CBC. “CBC is excited to be a part of this joint venture. It has significant potential to benefit all North Carolinians.”
“North Carolina has experienced the highest growth rate in the nation of Hispanic population,” said Jose Isasi, president and CEO of Que Pasa, adding that more than 800,000 Hispanics with $12 billion in buying power now live in North Carolina. “This influx has provided substantial opportunities for businesses across the state.”
Que Pasa, headquartered in Winston-Salem, is the state’s largest Hispanic media communications company with eight Spanish language AM radio stations, and three Spanish language newspapers in Charlotte, Raleigh/Durham, and Greensboro/Winston-Salem.
“We recognize the importance and magnitude of recent growth trends within the Hispanic Community in our state,” Goodmon continued. “Our goal is to be a strong and effective communications link with the state’s Hispanic community.”
About Que Pasa Media Network
For more information visit www.QuePasaMedia.com.
Under the new arrangements the two companies will share news and information. WRAL-TV, for example, will provide the local weather forecasts for distribution on the Que Pasa radio network and in the three newspapers. Breaking news coverage will be shared, as well. Que Pasa will share news and information concerning the Hispanic community that may be of interest to the larger, majority community.
The two companies will also be exploring Spanish language television opportunities, among others.
“Our strategy has always been local, local, local,” said Jimmy Goodmon, vice president and general manager of the CBC New Media Group, who led the negotiations for CBC. “There are a number of places where our state’s Hispanic population can find national and international news and information. Our focus, our differentiation point, is in our ability to provide the Hispanic Community with first-class local news and information. By bringing the resources of CBC to the table, we can help Que Pasa better provide these critical local news services to this emerging market.”
Thanks to NMG’s Jimmy Goodmon for this capcom story.