Crain's suspends publication of two Mexican biz papers

Detroit-based Crain Communications Inc., which publishes weekly business newspapers in Cleveland, Chicago, Detroit and New York, said Monday that it is suspending operations of its two regional business publications, Crain’s Mexico and Crain’s Monterrey, while it tries to sell them.

Originally published as El Asesor de Mexico and El Asesor de Monterrey, the publications were purchased by Crain Communications in 2001. The bi-weekly newspapers, published in Spanish, cover the local business communities of Mexico City and Monterrey, Mexico.

In a release Crain Communications President Rance Crain said, “We have been very proud of these two publications and the people who run them. But at this time, our business strategy lies elsewhere. It is our hope that we can find a Mexico-based publishing company that represents our values to take over these valuable properties.

“In suspending our operations, we want to express our tremendous gratitude to each of our 41 employees based in these offices,” said Gloria Scoby, president of Crain Communications’ Mexican subsidiary. “Through their efforts and commitment to providing superior service to our readers and clients, Crain’s Mexico and Crain’s Monterrey are great examples of the best of regional business journalism.”

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