Latina Media continues to show signs of financial stress
Molly Ashby, the CEO of Solera Capital, the company that owns Latina Media Ventures, boasts on its homepage that she is “leading a responsible life, earning the respect of colleagues, serving as a role model for next generations.”
But staffers and freelancers at Latina Media probably would settle for a little cash in their pockets instead of all that “leadership.”
This week, the Latina.com site went dark — the latest sign of financial stress for a company that is once again a month behind in paying staffers and many months behind paying freelancers.
One staffer said she only found out Solera had not paid for Latina’s health insurance for the past two months when she was trying to pick up a prescription.
National Writers Union President Larry Goldbetter said there are complaints from at least 10 freelancers owed “more than $50,000.”
Asten Morgan Jr., described as the co-president of Latina Media — even though the other former co-president, Robyn Moreno, resigned a month ago — sent a memo to staffers two weeks ago telling them that the company was restructuring and warned that they better stop talking to the press.
“As stated we are in the process of restructuring the company and intend to pay all their salaries owed,” he wrote in an April 13 memo.
“I also want to follow up regarding the public disclosures/commentary referencing Latina’s real or perceived financial situation. Any breaches and acts of intentional harm by individuals will be approached assertively on behalf of the company and its many share and stakeholders as these actions would be considered unprofessional and unacceptable.
Thanks for your patience, courtesy and understanding as we work through this transition. As stated on our call if you have questions please reach out and you will be advised as appropriate.”
When Media Ink called, he texted, “Who Is this?” When we told him, he did not promptly return our call for comment.
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