Secretary of Communication clarifies that Hoy Newspaper does not close due to lack of freedom

Fernando Alvarado, National Secretary of Communications, said in a press release that Hoy closed its printed version for business problems and not due to lack of freedom in the country.

Hoy registered a capital of $ 4.6 million and the net loss was of $ 4.21 million, i.e. the 91.64%, which “contravenes the Companies Law, which states as casual dissolution of companies when there are losses of 50% or more of its capital stock”.

Furthermore, he noted that the newspaper had 30 days to cover the losses but did not performed it during this period.