Lisbon, Jan. 9, 2025 (Lusa) - Portugal's minister of parliamentary affairs, Pedro Duarte, expressed concern on Thursday about the situation of Trust in News, the owner of Visão, but added that the government would not inject money into the insolvent group.
‘The government will take the same position as it has in other circumstances. Whatever we can do, in strict compliance with the law, we're available, as long as it doesn't violate the principle of interfering in the market, which we don't want to do,’ said Pedro Duarte, Portugal's minister of parliamentary affairs, in a sector debate taking place in parliament, after being asked if the government intended to adopt the same position on TiN as it did in the Inapa case, of not injecting money.
The minister insisted that the state would not do any favours but stressed that the group's situation would cost everyone.
On 15 November 2024, Finance Minister Joaquim Miranda Sarmento said that the government was not investing in Inapa to avoid a ‘snowball’ like Efacec.
On 2 January, the Workers‘ Committee (CT) of Trust in News (TiN) told Lusa that the workers had asked for a speeded-up meeting with the Creditors’ Committee to prioritise the sale of magazines, including them.
At the plenary session, called by TiN's insolvency administrator, ‘the workers made a request’ to him and to the CT ‘to prioritise the analysis of proposals for the sale of magazines and for this sale to include the workers,’ explained one of the members of the body.
Ideally, he said this meeting should take place before the creditors' meeting, which is scheduled for 29 January.
The members of the Creditors‘ Committee include the Social Security Institute, the Tax Authority, Impresa Publishing, Novo Banco and a workers’ representative. CTT and BCP are alternate members of the committee.
Founded in 2017, Trust in News owns 16 print and digital media outlets - Visão, Exame, Exame Informática, Courrier Internacional, Jornal de Letras, Visão História, Caras, Ativa, TV Mais, Visão Júnior, Telenovelas, Caras Decoração, Visão Saúde, Visão Biografia, Visão Surf, This is Portugal, and A Nossa Prima, as well as an information website Holofote -, is insolvent and has a creditors' meeting scheduled for 29 January.
PE/ADB // ADB.
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