Shareholders: Jornal Sol restructured without €1 of debt owed to the State

Media Capital has announced today that it has signed a share purchase agreement through which Meglo – Media Capital Global acquires the majority stake in Newsplex, the owner of Nascer do Sol and i, for one euro.

“Over the last three years, we had the honor of being the shareholders and managers of the company that owns Jornal Sol, bearing the responsibility for its management and preparing its future,” reads an article signed by José Saldanha Bento, Luís Santos, and Pedro Vargas David.

“The social good stemming from its existence will always be immensely greater than its economic value or impact,” they add, noting that the project has changed ownership.

“We leave behind a restructured newspaper with liabilities reduced by more than 50%. Today, there is not a single euro of overdue debt to the state, no delayed salary or subsidy, and no unpaid supplier,” they continue.

In these three years, “Sol remained true to the principles of our architect José António Saraiva, whom we always miss, yet we are confident that even without his sharp and precise columns, he lives on every page of Sol forever,” they emphasize.

“Free, democratic, and independent. Portuguese, European, and Atlanticist. Under the responsible and courageous leadership of Mário Ramires and with the unparalleled dedication of our editorial and technical teams, we are immensely proud of every edition of Jornal Sol,” highlight the shareholders and managers.

“They have been and will always be exemplary of the best journalism in Portugal,” they say, acknowledging “the recognition owed to Nuno Tiago Pinto and Vítor Rainho for keeping that same spirit alive.”

The administrators and shareholders also reflect on media piracy.

“In particular, to you who are reading these words on a pirated PDF received in a WhatsApp or Telegram group, let us ask if you really couldn’t afford the price of the newspaper? If you like to read Sol or others, why not pay for it? When you go to a restaurant or a hotel, it doesn’t occur to you not to pay the bill. It’s an effort from everyone, but it’s worth it, think about it,” they suggest.

Another reflection, “to those who, in associations, forums, or ’roundtables’, constitute the backbone of the country’s civil society, if the press is not supported by investing in advertising, who will do it?” they question.

Lastly, “a third reflection for you, who are responsible for educating the next generation, whose students don’t know what it’s like to pick up a newspaper or a physical book: don’t forget that cognitive and emotional development is compromised without these learning tools and the contact with the surrounding reality,” they warn, pointing out that “it is your responsibility to educate them in reading – the only antidote to the dopamine pandemic of screens and social networks.”

“As we conclude our investment in the media in Portugal and Sol is welcomed into the Media Capital group, where it will receive the prominence it deserves, we want to leave a word to you, our reader. To the several thousands who buy Sol every week. To you, who have always been there, we have one word: Thank you,” they conclude.

“By my own decision, this is my last edition as director of Nascer do Sol,” writes Nuno Tiago Pinto in the newspaper hitting the stands on August 1, noting that during these “short but intense four months” he hopes to have fulfilled the commitment made to the readers in his first week in office.

That commitment was “to bring our community essential information about national and international current affairs, treated impartially, justly, and balanced, to reflect on generationally interesting topics, to listen to all voices – even the more inconvenient ones -, to be a space of tolerance, where it’s possible to disagree without insult, debate without aggression, reflect without belittlement,” recalls the journalist.

Nuno Tiago Pinto thanks the team, readers, and the outgoing administration of Newsplex.

“To the new administration and the management taking office this Friday, I wish the best of luck,” he adds.