By Adam R Jacobson
Sylvia Banderas Coffinet, who was announced as Latino Media Network’s CEO in May 2023, exited the role as of May 31, 2024, completing one year of service for the radio station owner backed by a George Soros-affiliated fund.
Assuming the role of interim CEO is its President/COO and Chief Financial Officer: Marc Monahan.
Monahan spent more than 21 years at Univision Communications prior to its merger with Televisa, exiting in 2021 as Chief Operating Officer and Chief Financial Officer. He joined LMN in August 2022.
Banderas Coffinet was based in New York and before joining LMN was General Manager for Marketing Equity & Inclusion Partnerships for Vox Media.
A company spokesperson, in a statement provided to Streamline Publishing’s Radio + Television Business Report, said, “Her leadership was critical for our company at one of the most important moments in our history. As our first CEO, she stepped up to steward the organization through our first full year in business. Our co-founders, Stephanie Valencia and Jessica Morales Rocketto, have no doubt this team will continue to thrive and excel as LMN moves into its next phase of growth.”
The LMN representative adds Manahan will serve as interim CEO “until we determine the longer term trajectory of leadership.”
LMN acquired 17 radio stations in ten cities from TelevisaUnivision. The $60 million transaction saw Latino Media Network secure debt financing from an investment entity affiliated with Soros Fund Management LLC. Efforts to thwart regulatory approval of the transaction were denied by the FCC.
