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News: Venezuelan Media

Venezuela’s Cadena Capriles Sold; Globovision to Receive New Director

Merida, June 5th 2013 (Venezuelanalysis.com) –  A major private Venezuelan media conglomerate, the Cadena Capriles, will come under new ownership over the next two months, while a new director is expected to take over television network Globovision in the coming weeks.

On Monday, the group's president, Miguel Angel Capriles announced that on 31 May, Cadena Capriles was sold to “a known Venezuelan investor group”, and all assets will come under new ownership during the course of a “transition period” of 60 days from the time of sale.

The announcement was posted on the website of Cadena Capriles’ Ultimas Noticias– Venezuela's largest daily newspaper. No further details were given.

As well as Ultimas Noticias, the media group's assets include the national newspaper El Mundo, the Ultimas Noticias Radio station and Venezuela's largest cinema chain, Cinex. The group is also a major magazine publisher.

Miguel Capriles is related to Venezuela's de facto opposition leader, Henrique Capriles, though the latter has no known investments in the media chain.

Also this week, media director Oscar Silva confirmed that he will take over directorship of the Globovision television network; which has likewise recently come under new ownership. Silva has previously worked for the Maracaibo based daily newspaper Panorama, where he served as deputy director until 2001.

Following the initial announcement of the Globovision sale on 11 March, on 2 May the channel's main news anchor Leopoldo Castillo told viewers that the journalist Vladimir Villegas had been tapped to take over as director.

Within a few hours, Villegas responded by stating that he intended to take the position. However, on 14 May he announced over Twitter that due to “differences that emerged with the new leadership of Globovision” he had decided to reverse his decision, and would not take up the directorship.

Published on Jun 5th 2013 at 6.55pm