Lisbon, July 31, 2024 (Lusa) - The Portuguese state on Wednesday bought 45.71% of Global Media and Páginas Civilizadas' stake in Lusa for €2.49 million, giving it 95.86% of the news agency's capital.
The contracts were signed at Lusa's premises in Lisbon by the deputy director of the Directorate-General for Treasury and Finance, Lurdes Castro, representing the state, Marco Galinha, of Páginas Civilizadas and Vitor Coutinho, Diogo Queirós de Andrade and Mafalda Campos Forte, for the Global Media group.
With this decision, the state will hold 95.86% of the capital of the Portuguese news agency, which has minority stakes in NP - Notícias de Portugal (2.72%), Público (1.38%), RTP (0.03%) and O Primeiro de Janeiro, SA and Empresa do Diário do Minho, Lda, each holding 0.01%. Global Media held a 23.36% stake in Lusa and its shareholder Páginas Civilizadas 22.35%.
The previous government, led by António Costa (PS), intended to proceed with the purchase of the Global Media and Páginas Civilizadas stakes. However, on 30 November 2023, the deal failed due to a ‘lack of broad political consensus’ and has now been taken up by Luís Montenegro's PSD/CDS government, which took office in April.
The previous government's plans included making the Lusa service free of charge, while the AD government's plans are still unknown.
On 18 June, Pedro Duarte, Portugal's minister of parliamentary affairs and responsible for the media (RTP, Lusa, and RDP), said at a meeting with the Journalists' Union that the purchase of the Lusa shares held by Global Media Group (GMG) was “an absolute priority.” However, he warned that the state could not “pay more than the fair price.”
According to the minister, the decision also signals ‘the government's commitment to the public journalism service provided by RTP/Antena 1 and the only Portuguese news agency’.
Following this operation, Marco Galinha's group, which will be left with the Diário de Notícias and Açoriano Oriental titles, among others, bought the World Opportunity Fund position, thus leaving Global Media.
NS/ADB // ADB.
Lusa
