Language: EN
Type: Newspaper Story
Publication: The Miami Herald
Location: Section: Business, Edition: Final, Page: 1C
Author: JANE BUSSEY, jbussey@herald.com
Date: August 30, 2002
Copyright: Copyright (c) 2002 The Miami Herald


The Miami Herald
August 30, 2002
Section: Business
Edition: Final
Page: 1C

JANE BUSSEY, jbussey@herald.com

PODER business magazine, published currently in Spanish and Portuguese, plans to launch an English-language version in mid-September, Zoom Media Group announced Thursday.

The magazine, which offers business stories from Latin America, will target decisionmakers on Wall Street and in Washington who need to read Latin American business news in English, the publisher said in a statement.
PODER, which is published in Miami, is heading in the opposite direction of many investors and big companies, which have either pulled financial investments or scaled back business exposure given the growing problems in the region.

Editor-in-chief Isaac Lee said this is the time for more news coverage.

``In times of uncertainty, information is more important,'' Lee said. ``There are so many questions and no answers. [People] need a publication that will do that.''

Lee said those interested in Latin America needed a regional perspective. ``In those specific cases, we believe we can a better job,'' he said.

The magazine also has strong backing from its investors, Lee said.

In December 2000, the company raised $9.3 million in its second round of private equity financing, led by Citicorp Venture Capital. Additional investors included Glacier Internet Holdings, Bank of America, Grupo Editorial Expansion and the Spanish firm Latin-Rim.

Launched in August 2000, the magazine was originally named Punto-com, which means dot-com in Spanish, and covered the happenings of Internet-based companies in Latin America. A year ago the magazine changed its name to PODER, which means ``power'' in Spanish.

Bowing to the decline in Internet-based companies, the magazine broadened its coverage to all business in Latin America. It competes with a number of other business publications, such as AméricaEconomía, published in Spanish and Portuguese, and Latin Trade, published in English and Spanish.

PODER also announced that it will become the content distributor in Mexico for The Economist magazine. Starting in October, PODER magazine will carry content from The Economist in both its Spanish- and English-language versions.

Copyright (c) 2002 The Miami Herald