Former Chrysler CEO buys Latino-Review movie site

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One of the most popular movie news and scoop sites, Latino-Revue, was purchased by Robert nardelli, former CEO of Chrysler and Home depot. This is the latest in a recent wave of large companies buying online fan sites, a testament to the continued growth of fan genre media as they continue to dominate mainstream entertainment. All financial details of the acquisition remain confidential at this time. However, the site will be owned and operated under Taggart Media, in the Latino-Review LLC.

Taggart Media and Taggart Productions are Los Angeles-based companies operated by the sons of Robert Nardelli, Michael and Tim nardelli. Taggart Productions is the company behind the films Giant Mechanical Man, Another good day, and The circle. Robert Nardelli is currently Founder, Chairman and CEO of Atlanta-based private equity LLC, XLR-8.

Kelvin Chavez, the founder, editor and COO-CEO of Latino-Review, began negotiations with Nardelli in October before closing the deal last week. Chavez previously worked on Wall Street in commercial support for German Bank and to Cantor Fitzgerald.

Latino-Review started as a hobby for Chavez in 2000, when he launched the site to provide a Latino perspective on films. As the site grew and with the help of the co-founder Umberto González – commonly known online as “El Mayimbe” by the fan community – Latino-Review has become known for posting great stories about upcoming films, earning them a often infamous reputation with certain studios while transforming the site into one of the most popular fan destinations online.

With Nardelli’s acquisition of the site, Chavez will remain on board as editor, as the site expands its coverage and explores broader coverage beyond what it has done in the past. This past includes some of the most prominent entertainment media scoops over the years, including the recent news that Viola Davis would play Amanda Waller in the upcoming Warner Bros. superhero film. Suicide Squad.

“I think LR will be in good hands and I am very excited to work with the Nardellis and develop the site even further,” said Chavez when asked about the future of the site, “and of course to generate new income for a growing group of audiences for a site that attracts over a million visitors per month.”

Robert Nardelli said, “The Latino-Review team is very excited to continue to grow their core business and expand the follow-up, and then improve and expand the site based on the strong feedback from our base and potential new subscribers. The team thinks this is a great addition to their portfolio and has tremendous synergy across their business. “

Michael Nardelli is President and CEO of Taggart Productions, as well as an actor and film producer. Tim Nardelli is the company’s vice president and artistic director. Both are Latino-Review fans, and comic book fans have been focusing for some time – the brothers are actually working on their own graphic novel, which is in final development. They are also well aware of the growing importance of the Latino community as the largest and fastest growing minority group in the United States.

Latinos are actually the most movie-loving demographic in the whole country, with 18% of the overall movie-going population, but responsible for 25% of all tickets sold – 300 million banknotes in 2009, for example, and Attendance at Latino films increased by 12% in 2012. By 2015, the purchasing power of Latinos in the United States will reach $ 1.5 trillion (yes, trillion – it’s not a typo) this year, according to The Multicultural Economy Report 2012, by the Selig Center for Economic Growth at Terry College of Business. Michael and Tim Nardelli recognize these trends, and it was part of the motivation to choose Latino-Review. In the future, they will look to grow more in the fan market and in particular in the Latin entertainment market and the fan base.

The purchase of Latino-Review by the Nardellis is part of a growing trend. Earlier this month, the fan movie site Screen cry was acquired by the Canadian Internet business development company Valnet inc. This purchase follows the January purchase of a fan movie site Collider by the multimedia culture company Media Complex LLC.

When online fan sites got their start in the late 90s and early 2000s, they were just random fans sitting at home on their basement computer, sharing information and better guesses with other fans scattered around the web. These little pages grew over the next decade, as geek genre media first took over the box office, and then – lately – television. Fan sites have grown from small, home-based operations to some of the most prominent members of the entertainment press, inevitably gaining the attention of big investors and corporations. This integration of fan genres has created such a massive global audience for these movies, TV shows, and fan sites that the primary audience for all of them is the general public, not just the hardcore comic book fanboys and fangirls.

Regarding the trend for media companies to choose fan entertainment sites, Robert Nardelli noted, “I think you are seeing consolidation for exactly the same reason I mentioned.

Finding the balance between appealing to the wants and needs of the fan community, while serving a larger audience in the mainstream, is a job genre films and sites need to get used to and is not. still an easy path to walk. but it is of course a nice problem to have.

Here is the trailer for the film by Taggart Productions Giant Mechanical Man

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