Crain Communications Expands Olay

    DETROIT, Feb. 1 Crain Communications Inc. has made its
first expansion into Latin America with the acquisition of three business
publications in Mexico.
    Included in the acquisition are the weekly El Asesor de Mexico and the bi-
weekly El Asesor de Monterrey, regional business publications covering the
local business communities in Mexico City and Monterrey.  The two tabloids
will join the group of four successful regional business publications operated
by Crain.
    The third acquisition is Internet Velocidad, a glossy bi-monthly magazine
that covers Mexico's growing Internet industry.  The three publications were
formerly owned by Editorial Urbano.  The Spanish language publications are the
first Crain-owned products not in English.
    Joe Cappo, Crain Communications' senior vice president-international, will
also serve as president of the Mexican subsidiary that will operate the
publications.  He has spent more than 30 years as a business journalist and
columnist, and has served as a publisher and group publisher during his 22
years at Crain.  Gerard Delaney, an American who has lived in Mexico for
several years, will continue as director general of the publications.  He was
previously a founder and director general of ServiAlimentos Publishing Co.,
based in Mexico City.
    "This is a fabulous time for us to move into Mexico," Cappo remarked.
"That country is entering a new era of political reformation and economic
advancement and we are eager to be a part of it.  This also will give us an
opportunity to look for future growth opportunities throughout Latin America."
    Crain has established itself in Latin America over the past 10 years
primarily through the licensing of its U.S. publications to publishers in the
region.  It has a total of nine licenses in Brazil, Argentina, Chile,
Colombia, Venezuela and the Dominican Republic.
    Established by G.D. Crain in Chicago in 1916, the company has grown to
more than 30 business publications including Advertising Age, Automotive News,
Business Insurance, Modern Healthcare and other market leaders.  Four of its
publications are based in London.  Crain entered the regional business market
in 1978 with the introduction of Crain's Chicago Business.  Since then, it has
added regional business publications in New York, Detroit and Cleveland.
    Crain, a privately held company, is now run by the founder's sons, Keith
Crain, chairman, and Rance Crain, president.  The company also operates more
than two dozen Internet websites in conjunction with its publications and owns
two radio stations in the Florida Keys.