Francisco J Lloreda: former director of El País talks about selling to the Gilinskys – Business – Economy

Francisco J Lloreda: former director of El País talks about selling to the Gilinskys – Business – Economy

In his opinion column on Sunday, January 15, the former director of ‘El País’ Francisco José Lloreda made reference to the purchase of the Cali newspaper by the Gilinskis. The text discussed the importance of the medium for democracy and the development of the region.

(In context: Semana acquires the newspaper El País de Cali)

«I never imagined my life without El País», the text begins. Lloreda remembers that he grew up in the facilities of the communication medium, since one of its founders, Álvaro Lloreda, was his grandfather; In addition, the late Rodrigo Lloreda Caicedo, former Foreign Minister, former Minister of Defense and Francisco’s father, continued with the journalistic legacy by serving as director.

This is how he describes to Francisco José what he feels about the sale of ‘The country‘: «Deep sadness for the detachment, the closure of a cycle that I never expected to see and contributed to close. Happy, because the newspaper continues; this was our obsession in these dark years, to avoid its disappearance at all costs.»

Later, Lloreda, current director of the Colombian Petroleum Association, reflects on the role of the media, stressing that without prejudice to trying to be profitable, they have a great social responsibility.

Rodrigo Lloreda, when he died, asked «to make every effort to save the newspaper, which is more than a company, it is a mission,» according to his son. And he adds: «It is up to another family of Valle del Cauca businessmen to take over the post of that mission.»

According to the former director from Cali, Isaac and Jaime Gilinski were friends of his grandfather and his father, respectively. He highlights that who will take the reins, Gabriel Gilinskihe is «a seasoned businessman, committed to transforming the newspaper based on the legacy it receives, aware of the need to continue fighting for Cali and the Valley.»

Finally, in his text, Francisco José thanks his fortune for having been born and growing up with ‘El País’. In addition, he thanks employees, readers and María Elvira Domínguez Lloreda, director and general manager of the outlet.

(You can consult: Channel One is bought by HMTV1 and will no longer be part of CM&, NTC and RTI)

The ‘El País’ business was sold on January 10 after the businessman Gabriel Gilinski completed the acquisition last December of all the shares of Grupo Semana.

Now, the bet in this regional medium implies the investment of about 12 billion pesos for digital transformation, indicating sources close to the transaction.

In recent days, it had been speculated that other investors had reached an agreement to acquire it, but finally the Semana group is the one that ended the agreement to acquire the 73-year-old newspaper.

By Mitchell G. Patton

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