"Grupo Semana and El Heraldo publishing house, the most influential media outlet in the Caribbean region [in Colombia] based in Barranquilla, announced this Thursday [June 22] that they signed a memorandum of understanding for Semana to acquire all the shares of the news outlet.
The parties said the transaction is subject to certain conditions, including signing a final contract and some legal formalities.
With 90 years of history, El Heraldo has been a faithful voice of the Colombian Caribbean. With this transaction, the shareholder f the media, the families Pumarejo, Fernández Ortega and Manotas Llinás, would be selling their shares to Gabriel Gilinski, owner of Grupo Semana, which only a few months ago also acquired El País de Cali."
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