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Gilinski Group, owner of Semana, signs an agreement to buy El Heraldo, the most influential newspaper on the Colombian Caribbean coast

"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."

Read original story (in Spanish)