The director of the group owner, DN, JN and TSF admits cash flow problems – Observer



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Global Media Group, owner of DN, JN and TSF (among other media), confirmed to the Syndicate of Journalists that the media group had "cash flow difficulties". At a meeting with the Union of Journalists, following the information provided to the workers about the postponement of the Natal subsidy payment, the administrator Vítor Ribeiro and the general director of the content, Afonso Camões, recognized these cash difficulties, but assured that it was not a problem. the payment of wages and the payment of the Christmas grant until December 7, in accordance with the collective agreement of the press work.

According to the union's statement, the management of the group was also questioned about the change of the date of payment to employees, made on the 5th of each month, but on this point "Vítor Ribeiro has made no commitment". The administrator of the owner of DN, JN and TSF justified the difficulties of the Treasury by "the media market environment", affected by "the decrease of paid circulation, the increase in the cost of paper and the loss of income advertising, also resulting from absorption ". revenues from global technology giants such as Google and Facebook ".

The union also reveals that he's been questioning about the investments made since the company's entry into the company's capital a year ago, of entrepreneur Kevin Ho, to whom Vítor Ribeiro replied that "bets were placed in other sectors of activity, especially in the gaming sector." Gambling and V Digital, which have not yet generated a financial return ": in the first case, because of bureaucratic difficulties related to the start of the business, in the second, because" it is only four months of 39, activity "and has not yet imposed.

Regarding the bet of the new investor in the reformulation of the "Diário de Notícias", which went from daily to weekly, Vítor Ribeiro confirmed that the sales figures did not correspond to expectations and estimates, but he assured that the DN "will always exist on paper, but must develop in digital". Faced with this news, the union spoke about the future of the workers and the possibility of initiating a dismissal procedure, as was the case in the past because of the same problems. And, according to the statement, there is also reference to "acts of management made without a well-informed risk assessment, which would ultimately endanger the financial health of businesses and, especially, these jobs".

About this, the administrator only admitted that there were bets to review and modify and made sure that all decisions were made on the basis of a market study, without committing to anything else. Vitor Ribeiro, however, said that investments in new projects or opening to other markets "do not affect traditional activities", saying that "there is a formula for distributing of wealth in the group "and that" the traditional commercial accounts and new bets are separated ".

The union ends the press release by calling the group workers to organize them into representative structures, electing shop stewards, creating writing councils and workers' committees, so that they can better claim their rights.

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