De La Hoya discusses Ring purchase
By Chuck Johnson, USA TODAY
Oscar De La Hoya recalls when he was a young kid in East Los Angeles going to the nearest newsstand and devouring every story and picture in the latest issue of The Ring magazine.
"To be here now and actually own the title is truly a dream come true," De La Hoya said this week after his Golden Boy Enterprises announced the purchase of The Ring and three other sports magazines from Kappa Publishing Group.
De La Hoya, a 1992 Olympic gold medalist and 10-time world champion as a pro, acknowledges his roles as promoter, fighter and owner of a boxing magazine could be seen as a conflict of interest. But the president of Golden Boy Promotions said safeguards are in place to maintain The Ring's editorial independence.
"We have a very skilled and capable team at The Ring, and I have all the confidence that these magazines will not only continue to prosper, but in fact grow globally," De La Hoya said. "These magazines will be held in an editorial trust where they will be operating totally independent of any influence from me or others from the Golden Boy companies as it relates to editorial direction or content."
"This is the kind of asset you never really own, but rather safeguard for the next generation," Golden Boy CEO Richard Schaefer added. "We are proud and honored to be part of this next generation and are mindful of the responsibility trusted upon us."
Golden Boy's assets include real estate and various entertainment, sports, media and financial services, with a main focus on the U.S. Hispanic market. Sports and Entertainment Publications, a limited liability company started by De La Hoya to pursue publishing opportunities, also purchased KO, World Boxing and Pro Wrestling Illustrated.
The Ring, founded in 1922 and noted for pioneering the concept of boxing rankings, is the centerpiece of the acquisition, and De La Hoya hopes owning the magazine will help boost boxing's popularity.
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