NewsWhore
08-31-2010, 07:10 PM
Jose Luis (Pepin) Corripio press mogul is calling the shots at the Listin Group, official 10 August 2010. Corripio also owns Hoy and El Dia newspapers, and has investments in Diario Libre, the leading free newspaper.
The Central Bank made official the sale of the 121-year old media company Listin Diario to a group of 20 wealthy investors, lead by Jose Luis (Pepin) Corripio and Juan Bautista Vicini Lluberes.
Even Business Week carried the news story mentioning the total cost includes the roughly US$51.8 million the Editora Listin Diario owes to the government. The Listin media group had been heavily financed by the Baninter that collapsed in 2003.
The Listin Diario was founded by Arturo Pellerano Alfau in 1889, and had been in the Pellerano family until 2000. In that year, it was bought by cousin Ramon Baez Figueroa, head of then Banco Intercontinental, at the time the country's second biggest bank. Another cousin, Manuel Arturo Pellerano founded the Diario Libre, today the newspaper with the largest circulation.
The Listin is the newspaper with the largest paid circulation.
Hoy reports that the investors take on a debt of RD$1.45 billion, with commitments to pay this in five years with interest.
The investors met with President Leonel Fernandez at the Presidential Palace yesterday. Other investors are Hector Jose Rizek, Samir Rizek, Micalo Bermudez.
Central Bank governor said that the investors negotiated with the owners of the Listin Diario and took on the debt with the Central Bank.
The investors said that Miguel Franjul would continue as editor in chief, and Ramon Baez Romano would continue as president of the board of the newspaper.
Speaking to the media at the Presidential Palace, new owner Pepin Corripio said: "I disagree with making violent changes when acquiring a company. First one has to do is know that those who are inside know how things operate, and then see how one can use them and see if they can collaborate with the new management," he said as reported in the Listin Diario.
More... (http://www.dr1.com/index.html#8)
The Central Bank made official the sale of the 121-year old media company Listin Diario to a group of 20 wealthy investors, lead by Jose Luis (Pepin) Corripio and Juan Bautista Vicini Lluberes.
Even Business Week carried the news story mentioning the total cost includes the roughly US$51.8 million the Editora Listin Diario owes to the government. The Listin media group had been heavily financed by the Baninter that collapsed in 2003.
The Listin Diario was founded by Arturo Pellerano Alfau in 1889, and had been in the Pellerano family until 2000. In that year, it was bought by cousin Ramon Baez Figueroa, head of then Banco Intercontinental, at the time the country's second biggest bank. Another cousin, Manuel Arturo Pellerano founded the Diario Libre, today the newspaper with the largest circulation.
The Listin is the newspaper with the largest paid circulation.
Hoy reports that the investors take on a debt of RD$1.45 billion, with commitments to pay this in five years with interest.
The investors met with President Leonel Fernandez at the Presidential Palace yesterday. Other investors are Hector Jose Rizek, Samir Rizek, Micalo Bermudez.
Central Bank governor said that the investors negotiated with the owners of the Listin Diario and took on the debt with the Central Bank.
The investors said that Miguel Franjul would continue as editor in chief, and Ramon Baez Romano would continue as president of the board of the newspaper.
Speaking to the media at the Presidential Palace, new owner Pepin Corripio said: "I disagree with making violent changes when acquiring a company. First one has to do is know that those who are inside know how things operate, and then see how one can use them and see if they can collaborate with the new management," he said as reported in the Listin Diario.
More... (http://www.dr1.com/index.html#8)