Friday, December 28, 2001
Valiente Magazine Announces Publishing Hiatus
Valiente Ltd., announced it will temporarily suspend the publication of Valiente magazine, a Latino lifestyle monthly publication based in Plano, Texas. Several employees were let go as a result. Valiente magazine was first published in October, 2000.
Valiente blamed current economic conditions and the events of September 11, which have had a devastating effect in advertisement funds. Total advertising pages for November in U.S. magazines were down 11.2 percent from last year according to the Publishers Information Bureau.
``We are proceeding with guarded optimism during this hiatus and believe that Valiente's management team will take this time to enhance a powerful infrastructure in order to ensure Valiente's continued growth and success,'' said Gavin Wallace, president and publisher.
``The outpouring of concern and support from the community is overwhelming and reinforces the profound impact Valiente was able to build since its first issue in October 2000. We are focused on seeking opportunities that will ensure the continuation of our mission to serve the Latino community by reflecting the beauty, power and spirit of the culture in the pages of Valiente,'' adds Jay Forte, CEO.
Valiente is planning to relaunch as early as March 2002 but no later than June 2002. Plans include an increase from its current statewide distribution to a national level. The December 2001 issue is currently on newsstands.
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