State Takes Majority Control of Lusa: Major Media Acquisition Completed

Significant Media Ownership Changes in Portugal

On July 31, 2024, the contract for the sale of nine editorial brands from Global Media was officially finalized. The Lusa news agency is now 95.86% owned by the State following an agreement signed between Global Media Group, Páginas Civilizadas, and the Government. This development follows the recent sale of Global Media's titles, which led to the exit of the World Opportunity Fund (WOF) from Páginas Civilizadas, thereby facilitating the sale of both companies' shares in Lusa.

The Global Media's stake was 23.36%, sold for approximately €1.3 million, with nearly €1 million deducted due to debts owed to the news agency. In contrast, Páginas Civilizadas held a 22.35% stake, selling for around €1.2 million.

An initial agreement had already been established between the Government, Global Media, and its shareholder Páginas Civilizadas for the transfer of their 45.71% stake in Lusa, which was effectively completed this Wednesday. Consequently, the State's ownership of Lusa is now at 95.86%, while other stakeholders include Notícias de Portugal with 2.72%, Público with 1.38%, RTP with 0.03%, and Empresa do Diário do Minho with 0.01%.

Additionally, the deal includes the finalized sale of nine editorial brands from Global Media - including TSF, Jornal de Notícias (JN), Jornal de Notícias História, NTV, Delas, Notícias Magazine, O Jogo, Volta ao Mundo, and Evasões - to Notícias Ilimitadas. Notably, Diário de Notícias (DN), Dinheiro Vivo, Motor 24, Men's Health, and Açoriano Oriental remain under Global Media, which aims to establish a "solid partnership" with Notícias Ilimitadas, as stated by the administration.

Note: This report has been updated to reflect the State's percentage ownership in the Lusa Agency.