In a statement, the Board of Directors of Global Media, owner of Diário de Notícias, has announced a capital increase with the entry of a new investor, entrepreneur César do Paço, who will hold a 20% stake.
The Global Media Group (GMG) will carry out, over the coming weeks, an operation to reinforce its equity. The move is described as essential for sustained growth at a time when the media sector is facing the challenges of digital transition and of adapting to new patterns of news consumption, the Board of Directors announced in an internal communication.
Within that framework, GMG's shareholders have signed a memorandum of understanding providing for the entry of entrepreneur César do Paço into the company's capital, where he will come to hold a 20% stake. The future shareholder of the Global Media Group has been a resident of the United States for three decades, where he founded Summit Nutritionals International Inc., a leading company in the nutritional supplements segment, with particular emphasis on Chondroitin Sulfate (Droi-Kon).
The current shareholders — Páginas Civilizadas, Grandes Notícias, José Pedro Soeiro, and KNJ — will retain their positions in the share capital of the company, which owns the country's two oldest daily newspapers, Diário de Notícias and Açoriano Oriental. The group also holds the magazines Men's Health and Women's Health, the business newspaper Dinheiro Vivo, and the news websites DN Brasil and Motor24.
Source: Diário de Notícias