The company’s real estate Macau KNJ Investment Limited will take control of 30% of the Global Media, the group owner of the newspaper Diário de Notícias and the Journal News, and TSF radio, among other titles, through a capital injection of € 17.5 million, becoming the largest shareholder of the group, said this Sunday is the mediator of the negotiations.
The agreement will be signed in Macao on the 12th, during the 5.Th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and the Portuguese-Speaking Countries, known as Forum Macau, and it is expected that the contract will be signed “in there for March,” said to Lusa, Paulo Rego.
To this effect, is moving to Macao, the president of the board of directors of Global Media, Daniel Proença de Carvalho, “which comes mandated by all the shareholders to sign the so called memorandum of understanding” that “the saddle of the main guidelines” of the final contract that will be closed in the next year.
“we do Not have scheduled dates. In these things, what is important is that the processes are conducted until the end, to meet all its objectives, but I estimate that it is natural that everything can be done there to March,” said Paul Rego.
THE KNJ will make a capital injection of € 17.5 million, controlling 30% of the group media, which also implies the reduction of the holdings of current entrepreneurs António Mosquito, and Joaquim Oliveira (27,5% each), of Luis Montez (15%), Millennium BCP (15%) and New Bank (15%).
According to recent news published in the media, António Mosquito, and Joaquim Oliveira should reduce their equity holdings to 20% and Luís Montez, the BCP and the New Bank to 10%. This injection of capital will also be reflected in the appointment of members to the board of directors and the executive committee.
According to Paul Rego, the new “partnership” will have two main foci: the “technological modernization and the new business models for the digital, [through] migration of the so-called journalism in the paper for the new models the online“, and the “internationalization of the group for the Portuguese speaking markets”. Macau, not only by the source of investment but also due to its design as a platform between China and the Portuguese-speaking countries “is a natural extension” of this internationalization, he explained.
according To this responsible, the entry of the capital of the KNJ will help to increase the growth capacity. “There is a really excellent objective of growth. The capital increase means that we are all convinced that we will be able to create value for the group. In addition to the logic of dividends, there is a clear investment in the value of the group, in the growth of its importance in the growth of its geography, in its ability to embrace new business models,” he said.
For the KNJ, which had not up to now any investment in the sector of media, the entry in the Global Media is part of a strategy of “diversification of portfolio assets”, “investments in different sectors of real estate, where the KNJ are more focused”, that are “internacionalizáveis and may be relevant in the world of the Portuguese language”.
The Macao KNJ Investment Limited is headed by businessman Kevin King Lun Ho, and, according to the commercial registry, was founded in 2012, dedicated to real estate investment, medical and health, as well as to the restoration. Kevin Ho is a nephew of the former chief Executive of Macau, Edmund Ho, and the director of banco Tai Fung, among other investments.
The group Global Media is the owner of the Daily News, Journal News, TSF, sports The Game, site Live Money of the magazines Around the World and Bust, in addition to marking the presence in the Azores Oriental, the Journal of the Precipice and Diário de Notícias da Madeira, among others. Also holds two graphics, the Naveprinter, in the Port, and the subsidiary printing Company of Funchal, Lisbon. The group is also part of the ownership structure of Lusa and of the cooperatives VisaPress News and Portugal.