NewsWhore
05-24-2010, 02:20 PM
7dias.com.do (http://7dias.com.do) announces that the Listin Diario Communications Group has been purchased by the Corripio and Vicini business groups. Listin Diario was in considerable debt following the collapse of Baninter.
7dias.com.do (http://7dias.com.do) said the Grupo Corripio is now controlling the Listin's operations.
Pepin Corripio, who now heads the media group board, said that all employees would continue in their posts and the transition would be gradual.
Reportedly, the Baez Romano family received US$38 million, lawyer Marino (Vincho) Castillo, who served as mediator, received US$5 million, while the Listin Diario Group's debt was renegotiated and reduced to US$50 million. The purchasers are committed to clearing it in two years.
7dias.com.do (http://7dias.com.do) reports that Corripio and the Grupo Vicini will have a 33% share. Others are the Rizek brothers (Samir and Hector with 10% and 5% respectively). Businessman and government public works contractor Micalo Bermudez, who is a member of the central committee of the ruling PLD has 15%. Other shareholders in the company retain 4%.
7dias.com.do (http://7dias.com.do) says that this year, all the Listin Diario installations will be relocated to Hoy and El Nacional's Av. San Martin location, where a 900 square meter third floor is under construction. Reportedly, Hoy's presses will be rebuilt to have the capacity to print four dailies - Listin Diario, Hoy and El Dia, and El Nacional in the afternoon.
As reported, the Listin Diario's present location will be sold for real estate development.
http://www.7dias.com.do/app/article.aspx?id=75349
More... (http://www.dr1.com/index.html#11)
7dias.com.do (http://7dias.com.do) said the Grupo Corripio is now controlling the Listin's operations.
Pepin Corripio, who now heads the media group board, said that all employees would continue in their posts and the transition would be gradual.
Reportedly, the Baez Romano family received US$38 million, lawyer Marino (Vincho) Castillo, who served as mediator, received US$5 million, while the Listin Diario Group's debt was renegotiated and reduced to US$50 million. The purchasers are committed to clearing it in two years.
7dias.com.do (http://7dias.com.do) reports that Corripio and the Grupo Vicini will have a 33% share. Others are the Rizek brothers (Samir and Hector with 10% and 5% respectively). Businessman and government public works contractor Micalo Bermudez, who is a member of the central committee of the ruling PLD has 15%. Other shareholders in the company retain 4%.
7dias.com.do (http://7dias.com.do) says that this year, all the Listin Diario installations will be relocated to Hoy and El Nacional's Av. San Martin location, where a 900 square meter third floor is under construction. Reportedly, Hoy's presses will be rebuilt to have the capacity to print four dailies - Listin Diario, Hoy and El Dia, and El Nacional in the afternoon.
As reported, the Listin Diario's present location will be sold for real estate development.
http://www.7dias.com.do/app/article.aspx?id=75349
More... (http://www.dr1.com/index.html#11)