Public media bought a newspaper of Cuenca

The Public Company El Telegrafo EP acquired 49% of the shares of the private company El Tiempo Cia. Ltd., which publishes the newspaper of the same name, and next year it will acquire the remaining 51%.

The news was reported yesterday by El Mercurio newspaper, which backed the information in documents of the Companies Registry of in Cuenca and the Ninth Notarial Office of that county.

On 27 October, the Toral Calle family, owner of El Tiempo, transferred some of its shares to the public companythat prints El Telegrafo. The source indicated that “the amount of the transfer of shares (49%) is $ 735,000;” and the difference will be $ 765,000, which will go “to the budget of the following year (2016).”
Source: http://www.eluniverso.com/noticias/2015/11/18/nota/5247069/telegrafo-compra-periodico-cuenca