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Dominican Republic Expat and Travel ArticlesListin Diario sold for US$38.5 million
The Dominican Republic has a long history of mass media. A prime example of this history of mass media would be the Listin Diario, one of the country's leading newspapers and the oldest one that is still in existence. Created in 1889, the Listin Diario already serves its 121st year in the business.
From time to time, the newspaper changed hands from individuals and institutions due to different reasons, but the paper never ceased to delivering ordinary Dominicans with the latest news in and out of the country. During this time, it even experienced having to face people who were not favor of its publication, the most notable of which is the Dominican dictator Rafael Trujillo, who forced the paper to close down for 21 years. The paper was then revived 2 years after the dictator's death on 1963. But dictators are not the only problem. In a time when the press is freer than ever, there also arises the problems regularly encounter by businesses during bad times. It has something to do with the money. There has been a notable decline in the subscription and sales of physical newspapers as the Internet has become a favorable alternative. Compound this with the economic slowdown, and its owner bank Intercontinental (Baninter) had to sell the very old newspaper seven years after its collapse. The paper was then bought up by a group of local moguls Samir Rizek, Mícalo Bermúdez and Jose Luis Coripio (Pepín) for US$38.5 million. That's still some big money. More assets of the Baninter will have to be sold as its a commission is tasked to liquidate the assets of the company and pay up the shareholders. The history of the paper has been troublesome alright, but it is these stories that will actually make the paper stronger than ever. The country can be proud of this very old publication that rivals some of the world's oldest newspaper publication. The Listin Diario has got history as its backup to increase its value. You can talk about... Listin Diario sold for US$38.5 million Tags: • history • newspapers • bad times • mass media • listin diario • Related articles:
Listin Diario sold for US$38.5 million Dominican Republic Expat and Travel Articles
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