Media News - Tuesday, July 08, 2008
Brazil’s Globo studies buying Estado newspaper co.
Brazilian media giant Organizacoes Globo says it is considering buying Group Estado, owner of the nation's second-largest newspaper and a key provider of financial information. A statement from Globo says only that its directors are 'analyzing the opportunity' and doesn't speculate on the value of a possible deal. Grupo Estado owns the Estado de S. Paulo newspaper. It declined to comment on Monday's statement from Globo. There was also no comment from Abril, another media group that has been cited as a potential buyer. Organizacoes Globo already controls the nation's largest TV network and a host of radio stations, magazines and newspapers including O Globo Extra, Diaro de S. Paulo. (Business Week via Ifra Executive News)
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