Impremedia, publisher of Spanish-language newspapers, has a new owner.

Impremedia, owner of some of the largest Spanish-language newspapers in the United States, has sold itself to a private equity-backed start-up that aims to cash in on growing demand from multicultural audiences.

Impremedia, which runs early 20th-century publications such as El Diario in New York and La Opinion in Los Angeles, was acquired by My Code, an advertising network in Santa Monica, California, aimed at marketers looking for Hispanic, black , Asian American and Pacific Island consumers, said executives from both companies.

Impremedia and My Code refused to provide a price for the deal. A person familiar with the sale said My Code had paid more than $ 10 million.

The deal marks another chapter in the turbulent history of Spanish-language newspapers in the United States, many of which have been closed in recent decades due to declining print revenues and digital newcomers capitalizing on advertiser demand. for the Hispanic audience.

At one time, many major U.S. cities had a newspaper aimed at Spanish-speaking readers, said Ken Doctor, longtime media analyst and CEO of Lookout Local, a media start-up in Santa Cruz, California. . Some English-language newspaper publishers, including former owners of the Chicago Tribune, have launched Spanish-language editions to reach new audiences and increase advertising revenue.

But the consolidation and cost reductions that have captured the ranks of metropolitan English-language newspapers have also impoverished Spanish-language publications, Dr. Doctor said.

“Just as the major daily subways struggled with what it meant to be a digital publication, I think that’s largely true of the Hispanic press,” said Doctor.

Parker Morse, founder and chief executive of My Code, said in an interview that it aimed to extend the life of Impremedia’s print business by increasing digital revenue, which was a positive point for the company. He said the deal would help the company reach out to Hispanic Americans who “live between two worlds” by browsing sites like El Diario alongside ESPN, TMZ and CNN.

“I think about two-thirds of Hispanic consumers are bilingual and consume content in English and Spanish,” Morse said. “And so while it might not be 100 percent of that demographic, it’s a big chunk.”

Impremedia was founded in 2003 by John Paton, an entrepreneur who went on to become CEO of Digital First Media, the newspaper chain controlled by the hedge fund Alden Global Capital. Mr. Paton, who is now president of The Independent, a news publisher in London, bought El Diario and other headlines with his partners to create a Hispanic news conglomerate. It was acquired by a branch of the Argentine newspaper La Nación in 2012.

Iván Adaime, CEO of Impremedia, said in an interview that the company’s stocks are a vital resource for readers who do not speak English or whose problems have been ignored by the English-language press. Mr. Adaime, an immigrant from Argentina, said he would stay after the deal was concluded.

“I am very committed to that mission,” said Mr. Adaime. “It’s a mission that was there before I was born, but it’s a mission that resonates very well with me.”