Friday, July 4, 2025

Creating liberating content

Introducing deBridge Finance: Bridging...

In the dynamic landscape of decentralized finance (DeFi), innovation is a constant,...

Hyperliquid Airdrop: Everything You...

The Hyperliquid blockchain is redefining the crypto space with its lightning-fast Layer-1 technology,...

Unlock the Power of...

Join ArcInvest Today: Get $250 in Bitcoin and a 30% Deposit Bonus to...

Claim Your Hyperliquid Airdrop...

How to Claim Your Hyperliquid Airdrop: A Step-by-Step Guide to HYPE Tokens The Hyperliquid...
HomeSportsThe GMG executive...

The GMG executive committee states that the decision “can only be the result” of joint efforts between the fund and the Bel group.

The executive committee of Global Media told employees this Thursday that “a short- and medium-term solution can only arise as a result of synergies and financial solutions found jointly by representatives of the fund and the Bel group.”

“In recent weeks, especially following the announcement made by some Global Media Group (GMG) shareholders, there has been no shortage of attempts to create an image of deep discord and disagreement among the group’s shareholders, especially its partners. Páginas Civilizados, the company that owns most of the capital of GMG, has an image that is completely untrue,” said a note from the Executive Committee to workers to which Luza had access.

“What does exist is a normal and sometimes even healthy divergence regarding the analyzes and assessments made regarding the options of the last administrations” of the GMG, continues the Executive Committee headed by José Paulo Fafe.

However, “understanding that the short and medium term solution for GMG could be the result of synergies and financial solutions found jointly by representatives of the World Opportunity Fund [WOF] and group Bel [de Marco Galinha]partners of the above-mentioned “Civilized Pages”, we guarantee our full focus on the implementation of concrete measures that will effectively and sustainably overcome the serious financial situation in which this group finds itself and prepare them for the enormous and decisive challenges they face.” , promote.

The priorities “for now” are to “guarantee the normalization of wages as soon as possible and strengthen financial and treasury mechanisms to guarantee the full and timely implementation of all obligations.”

Açoriano Oriental employees’ salaries were paid last week, today salaries from TSF were processed but not everyone has received them yet, as well as salaries from Diário de Notícias (DN), Jornal de Notícias (JN) and O Jogo and others. , are still missing.

Moreover, “the very fact that all decisions of the Executive Committee were taken by consensus, that is, unanimity, clearly proves the harmony and clear understanding that exists among the shareholders represented in this body,” states the Executive Committee.

“It is more important than ever to remember that only within all shareholders, administrators, managers, employees and employees of GMG “will solutions be found to overcome this very difficult phase that the group is going through,” he concludes. .

Meanwhile, the former executive president of Global Media, Marco Galinha, explained this Thursday that the group “does not have obligations of 50 million euros” and that when the WOF fund “began to default”, it advanced the “necessary funds” to pay salaries.

“Because of the sense of social and business responsibility that we always had, when a new shareholder began to fail to fulfill his duties, we were the ones who advanced the necessary funds to ensure that the first two months of payroll were met. for the entire group,” emphasizes Marco Galinha, repeating that “continuing to observe a number of violations on the part of the new shareholder”, it was decided to “already activate all legal and judicial mechanisms to protect the contracts signed between WOF and the civilized pages”.

According to Expresso, businessman Marco Galinha applied to the court for provisional arrest at Global Media.

On September 21, World Opportunity Fund acquired 51% of the shares of Páginas Civilizados, the direct owner of Global Media, obtaining 25.628% of the shares and voting rights in Global Media.

Author: Lusa
Source: CM Jornal

Get notified whenever we post something new!

Continue reading