Grupo El Comercio (hoy Vigenta Inversiones S.A.)

Grupo El Comercio (hoy Vigenta Inversiones S.A.)

The Comercio or Ecomedia –controlled by Miró Quesada y García Miro- is the biggest media group and is located between the 170 most important companies, a list that is made by “Perú: The top 100.000 companies of 2015”. In 2015, revenues of this group and the subsidiaries were higher than the total received by all the media graphic system of Peru. The newspaper –created in the XIX century by two migrants who arrived to Lima in the middle of the emancipatory wars- passed to the Miró Quesada family in 1875, they survived one of its director’s murder in 1933 and the confiscation by the leftist military dictatorship between 1974 and 1980.

 

The company which originated the Group was born with the name of Infobanco-Servicios Teleinformativos in 1991 and changed to Empresa Editora el Comercio S.A. However, its entrepreneurship power and influence on the public opinion grew strong in the last decade, and at the same time, it entered into the TV market after the purchase of Compañía Peruana de Radiodifusión (América Televisión o Canal 4). During the presidential elections of 2006 and 2011, according to various political analysis, El Comercio supported candidate Alan García and Keiko Fujimori, both from the right, against the nationalist candidate Ollanta Humala, who finally won the round. That same year, Nobel prize in Literature winner Mario Vargas Llosa resigned as columnist of the newspaper through a letter in which he considered that Meier had turned the newspaper into a "propaganda machine for the candidacy of Keiko Fujimori." Two years later, in 2013, the group bought more than 50% of shares from the company who published the printed newspapers of their competitors: Epensa. After the operation was disclosed, a group of journalists denounced El Comercio for violating freedom of speech and media pluralism by concentrating almost 80% of the effective circulation of newspapers. The process called "concentration" is in the judiciary, but is expected to get the case to the Inter-American Court of Human Rights (CIDH) based in Costa Rica.

After this claim, El Comercio group started a process of diversification in 2014, changing its company name from Empresa Editora El Comercio S.A. to Vigenta Inversiones S.A. and they started a new business in education and entertainment, in Chile and Colombia. That same year they announced their new corporate name, from El Comercio Group to Ecomedia.

Key facts

Mother Company

Vigenta Inversiones S.A. (antes Empresa Editora El Comercio S.A.)

Business Form

Private.

Legal Form

Limited Company.

Business Sectors

Entertainment, real estate and education.

Ownership

Individual Owner

José Alejandro Graña Miró Quesada

Peruvian (1945), architect and member of the Miró Quesada family. Businessman, owner and chairman of the country's largest construction company, Graña & Montero (G&M), one of the seven Peruvian companies listed on the New York Stock Exchange and ranked eighth on the list of major groups in Peru, according to the publication "Peru: the top 10,000 companies 2015." The XXXV Power Survey of the “Semana Economica (Economy Week)” magazine considered him as one of the 30 most powerful people in Peru in 2015. Between 1999 and 2014, he was a member of the Board at the Empresa Editora El Comercio S.A., a position in which his daughter eventually replaced him. He is currently a member of the Board of Directors at the Banco de Crédito del Perú (Credit Bank of Peru). Before that he held the same position at Telefónica del Perú, Refinería La Pampilla and Edegel. G&M and its subsidiaries in 7 other Latin American countries have entered the licensing business in the road, rail, oil, gas and electricity sectors. Although the owner of Graña & Montero maintains a low profile -he has not held public office nor is known to be affiliated with any political party- his company has been chosen during the last three Peruvian governments (Alejandro Toledo, Alan García and Ollanta Humala) to take charge of the main megaprojects in construction; in some cases associated with Odebrecht, the Brazilian transnational company involved in the biggest corruption scandal in recent years: the Lavajato case. (More information here).

4.6%

Enriqueta Graña Miró Quesada

Peruvian (1950), member of the Miró Quesada family, José Graña’s little sister and linked to the largest construction company in Peru: Graña & Montero (see interests of Jose Alejandro Grana Miró Quesada). Has not held public office nor has any registered political affiliation

4.6%
Media Outlets
Other Media Outlets

Other Print Outlets

El Comercio, Perú21, Trome, Gestión, Correo, Ojo, Depor, ElBocón, Publimetro, Diario The New York Times-versión Perú, Revista Somos,Revista Casa & Más,Revista Hola Perú, Revista G, Revista Ruedas & Tuercas, Revista Vamos, Revista Aptitus, Revista Urbania Premiun, Revista Mujer Trome, Revista Mujer Actual.

Other TV Outlets

AméricaTv, Canal N.

Other Online Outlets

www.ElComercio.pe, www.Perú21.pe, www.Trome.pe, www.Gestion.pe, www.Diariocorreo.pe, www.Ojo.pe, www.Show.pe, www.Depor.pe, www.Elbocon.pe, www.Publimetro.pe., www.Peru.com, www.Laprensaperu.com, www.americatv.com.pe, www.Canaln.pe, www.Elshow.pe, www.Mujerpandora.com, www.Tuderechoaelegir.pe

Facts

Media Business

Media companies

Compañía Peruana de Radiodifusión S.A. , Prensmart S.A.C. , Prensa Popular S.A.C, Publiqualy S.A.C., Orbis Ventures S.A.C., Peru.com S.A , Servicios Especiales de Edición S.A. , Grupo Tv Perú S.A.C., Plural Tv S.A.C. , Revistas Amauta S.A.C. , Productora Peruana de Información S.A. , Producciones Cantabria S.A.

Digital business

Clasificados.pe, Neoauto.com, Aptitus.com, Urbania.pe, Clubelcomercio.pe, Ecomedia.pe, Perured.pe, Peruquiosco.pe, Peruid.pe, Pagoefectivo.pe, Menuperu.elcomercio.pe, Ofertorp.pe, Elcomercio.aptitus.com, DataImágenes, Suscripciones Digitales, Catálogos virtuales (Oe e Hiraoka), Houseonline

Printing business

Zeta Comunicadores, Amauta Impresiones Comerciales y Alfa Beta Sistemas

Editorial

Punto & Coma Editores

Business

Entertainment

Vigenta Entretenimiento (Se fusionó con Vigenta Inversiones en el 2016), Atracciones Coney Island (70%) y 4Kids Corporation (51%)

Sector Inmobiliario

Vigenta Inmobiliaria, Inmobiliaria El Sol del Perú (100%), Edificio Leonard (100%) y Houseonline S.A. (85%)

Education

Instituto de Educación Superior Tecnológico Privado Red Avansys (100%),Universidad Privada Peruano Alemana (99%), Proyectos Educativos Integrales del Perú (75%) y Vigenta Educación (Se fusionó con Vigenta Inversiones en el 2016)

Colombia

Diver Happy (70%) y Divertrónica Medellín (70%)

Chile

Yukids (70%)

Bolivia

Zetta Flexo Gráfica de Bolivia (99%).

General Information

Founding Year

1839

Founder

Manuel Amunátegui (Chilean) y Alejandro Villota (Argentine)

Affiliated Interests Founder

The two founders of the newspaper “El Comercio” arrived in Peru in the 19th century, during the wars of independence in South America. Amunátegui served in the military of the Spanish crown and Villota served in the liberation army of José de San Martín.

Employees

Around 4.700 workers in 2016 (Vigenta Inversiones and its subsidiaries).

Contact

Jr. Miró Quesada 300, Cercado de Lima.

Teléfono: (511) 3116500

. Página web: www.elcomercio.pe

Tax/ ID Number

Ruc: 20143229816

Financial Information

Revenue (Financial Data/ Optional)

US$432 million approximately (S/ 1,472 million.) Data from El Comercio (2015).

Operating Profit (in Mill. $)

US$58 million approximately (S/ 197.2 milion). Data from el Comercio (2015).

Advertising (in % of total funding)

US$370 million, approximately (S/ 1.261 million) Data from El Comercio (2015). # Advertising represents a little more than 80% of the group revenues.

Management

Executive Board + Interests Executive Board

The Board is composed of 9 people, all of them are shareholers of the parent company and members of the Miró Quesada family with an average age of 65.

Non-Executive Board + Interests Non-Executive Board

Fernando Berckemeyer Olaechea

Editor-in-chief. Peruvian lawyer born in 1978 who holds a master's degree from Harvard University. He is a member of one of the most traditional families in Lima. He is currently only the second editor-in-chief at “El Comercio” who does not come from the Miró Quesada family. He took office in 2014 after the death of the economist Fritz du Bois. He was editor of the Editorial section from 2012. He is a known liberal in the political and economic spheres. He appears in the top 30 in the annual survey on power in Peru and is first in the written press section (2016), both produced by the magazine “Semana Económica (Economy Week)”. Prior to joining “El Comercio,” Berckemeyer was a partner in one of the most important tax law firms in Lima: the “Olaechea de Lima” studio (owned by his maternal family and managed by his uncle José Antonio Olaechea Álvarez Calderón). Another of his uncles, Pedro Olaechea Álvarez Calderón, was director of Confiep and Adex, the two largest business associations in the country. He is currently a congressman in President Pedro Pablo Kuczynski’s party (2016-2021).

Other Influential People + Interests Other Influential people

César Emilio Rodríguez-Larraín Salinas

MInoritary shareholder of El Comercio. Peruvian lawyer. Married to the vice president of El Comercio, Milagros Miró Quesada Martens, and partner of the Bureu Rodríguez Larraín. He was secretary general of the Ministry of Economic and Finance (1982), deputy minister of Fishing (1984-1985) and member of the board of Panamericana Televisión, Radio Programas del Perú and Compañía Latinoamericana de Radiodifusión. He is shareholder and chairman of the board of Lan Perú airline since 2004, and is chairman of the board of Inmuebles Comerciales del Perú, a Peruvian company owned by Chilean corporation Parque Arauco, which has different subsidiaries that, in turn, own some of the main shopping centers in Peru: Larco Mar, for example.

Further Information

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

2 ♥

Meta Data

Difficulty in identifying all the shareholders of the El Comercio Group and little information related to semented revenues by subsidiaries.

Sources

Página web corporativa del Grupo El Comercio

http://grupoelcomercio.com.pe/corp.php

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