ESTEFAN NOT HAPPENING FOR QUEPASA.COM

Things are going from bad to worse for Latino portal Quepasa.com. Its shares have plummeted from a $17 high a year ago to just over $1. It has laid off a third of its workers, and a study by Cheskin Research says most Latinos prefer mainstream portals to ethnic ones.

Now, singer Gloria Estefan has backed out of a Quepasa.com-sponsored U.S. tour. A statement issued by the Web operator says Estefan needs to focus on promoting her Alma Caribena album. There’s an upside: The cancellation menas Quepasa.com forgoes a $2.5 million options payment to the pop star.

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