A "Latino version of People" at the time of its 1988 debut, Hispanic was one of the first general interest magazines for Hispanic Americans to be printed in English and nationally distributed. Launched in Washington, D.C. by Cuban native Fred Estrada, with former New Mexico governor Jerry Apodaca as his publisher, Hispanic initially revolved around celebrity photo spreads and articles that were roundly dismissed as "fluff." The debut issue featured Raquel Welch "of all people" on its cover, as Estrada's son Alfredo would later lament. After a dismal first year of receipts, Hispanic underwent extensive reformatting. Becoming far more career and professional-oriented, the magazine's new focus was on the achievements of Hispanic business leaders and politicians such as Secretary of Housing and Urban Development Henry Cisneros, with regular articles on corporate America and its relationship to Hispanics.

The shift was successful. Almost immediately, ad pages increased...