Like other newspapers of El Salvador founded in the 19th century by wealthy businessman, Diario Latino was conservative.
Rey sold his shares on the company to the well known journalist Eduardo Vazquez Becker, but the newspaper has been negotiated by Arena's president Alfredo Cristiani with FMLN.
[2] In June 1989 its employees stopped receiving their pays, decided to organize and formed a union which took over operations, changing its name to Diario Co Latino.
[3] Its editorial line suffered a drastic change, from right-wing to a left-wing paper, becoming the most prominent left wing newspaper.
In 2010, the Diario Co Latino won the Spanish Freedom of Expression Prize from the Casa America Catalunya for writing investigative articles during El Salvador's civil war.