The enhancement of short-term spectra of noisy speech can be achieved by statistical estimation of the clean speech spectral components. We present a minimum mean-square error estimator of the clean speech spectral magnitude that uses both a parametric compression function in the estimation error criterion and a parametric prior distribution for the statistical model of the clean speech magnitude. The novel parametric estimator has many known magnitude estimators as a special solution and, additionally, affords estimators that combine the beneficial properties of different known solutions. The new estimator is evaluated in terms of segmental SNR, speech distortion, and noise suppression.