MIAMI--El Sitio has filed a registration statement with the U.S. Securities & Exchange Commission for an initial public offering in the U.S. of up to 9.4 million shares. El Sitio was founded in Buenos Aires in 1997 by Roberto Vivo-Chaneton and Roberto Cibrian-Campoy to provide localized Internet content services in Spanish and Portuguese. The network today has 490,000 registered users and offers country-specific content for Argentina, Brazil, Mexico and Uruguay. It launched in seven U.S. cities in September. Private investment fund Ibero-American Media Partners -- backed by U.S. investment firm Hicks, Muse, Tate & Furst and Mexico's Cisneros Group of Companies -- owns a stake.
Copyright November 1999, Crain Communications Inc.