12:33pm PT by Natalie Jarvey
Movie Site Latino-Review Bought by Former Chrysler CEO
Fan movie website Latino-Review has been acquired by former Chrysler CEO Robert Nardelli.
Latino-Review founder and editor-in-chief Kellvin Chavez tells The Hollywood Reporter that the company will continue to run independently but will become part of Taggart Media Group, a web design and marketing firm run by Nardelli's sons Michael and Tim Nardelli. Terms of the deal were not disclosed.
Chavez started Latino-Review more than a decade ago with co-founder Umberto Gonzalez as a place for English-speaking Latinos to go for Hollywood news. Over time, the site has grown to 1 million unique viewers a month, the editor said.
Chavez says that the acquisition will give Latino-Review greater resources to expand beyond film into verticals such as television, video games and graphic novels. "The motivation [to sell] was having backing and financial backing to expand more," he says, noting that it was important for him to retain control of the site. "I would never have done this if I didn't know I'd have 100 percent autonomy of the site. It stays the same."
Nardelli is a longtime businessman, known for his CEO roles at Chrysler and Home Depot. He is now the founder and CEO of private equity investment firm XLR-8.
Latino-Review is one of several fan sites to get scooped up in recent months. ScreenRant was acquired by Canadian web developer Valnet earlier this month, and Collider was bought by male lifestyle publisher Complex in January.