Clarín Group

Grupo Clarín S.A.

Company type	Public
Industry	Media, Telecommunications
Founded	1999
Founder	Roberto Noble (roots traced to 1945)
Headquarters	Buenos Aires , Argentina
Key people	Héctor Magnetto (President and CEO), Ernestina Herrera de Noble (principal shareholder), José Antonio Aranda, Lucio Rafael Pagliaro, Ralph Booth (stakeholder)
Products	Newspaper publishing, Cable television, Radio broadcasting, Telecommunications, Newsprint production, Film production
Owner	Private investors (71%), Ralph Booth (stakeholder), formerly Goldman Sachs (9%)

Grupo Clarín S.A. is a prominent Argentine media conglomerate based in Buenos Aires.

Overview

Founded in 1999, Grupo Clarín encompasses several key assets, including the newspaper—recognized as Latin America's most widely distributed—Papel Prensa, the country's leading newsprint producer, Cablevisión cable services, the media firm Artear, among other ventures.

Tracing its roots back to 1945 with the establishment of the centrist daily by Roberto Noble, the company has expanded its operations across publishing, print media, television, radio, and telecommunications sectors. Ernestina Herrera de Noble was its principal shareholder. Other significant stakeholders include CEO Héctor Magnetto, José Antonio Aranda, Lucio Rafael Pagliaro, and investment firm Goldman Sachs. Magnetto holds the roles of President and CEO, while Herrera de Noble managed the principal newspaper.

By 1980, Grupo Clarín had become the foremost newspaper distributor within the Spanish-speaking world, generating revenues surpassing US$900 million. During the 1990s, it broadened its portfolio by acquiring Channel 13 (Artear) for television and Radio Mitre for radio broadcasting. The cable television segment grew with the 1992 acquisition of Multicanal and was further strengthened by launching the cable news channel Todo Noticias in 1993, which continues to hold significant influence. The conglomerate also owns Patagonik Film Group and regional newspapers such as Los Andes (Mendoza) and La Voz del Interior (Córdoba).

In 2007, Grupo Clarín became publicly traded on both the Buenos Aires and London Stock Exchanges, offering 20% of its shares to the public while maintaining 71% ownership among private investors and 9% held by Goldman Sachs. By 2011, revenue streams were divided with cable operations (Cablevisión and Multicanal) contributing 46%, advertising bringing in 22%, ISP Prima S.A. accounting for 14%, publishing activities making up 9%, and the remainder derived mainly from broadcasting rights and digital content.

Goldman Sachs divested its 9% stake to Ralph Booth, CEO of Fontinalis Partners, in 2012. After conflicts arose concerning a 2009 antitrust regulation that limits media ownership licenses, Argentina's Federal Authority for Audiovisual Communication Services (AFSCA) mandated in December 2012 that Grupo Clarín reduce its controlling interest in Cablevisión and decrease broadcast licenses exceeding legal thresholds. The legislation caps companies at owning no more than 24 cable licenses, 10 free-to-air radio and television licenses combined, and coverage restricted to a maximum of 35% of the pay-TV audience.

Debt default and political influence

Among Grupo Clarín's assets, cable operator Multicanal S.A. defaulted on obligations to its Note holders during the early 2000s. Documentation from U.S. Bankruptcy Court reveals that Grupo Clarín engaged in political maneuvers that impeded repayment to these investors.

During Argentina's financial crisis in 2002—characterized by a peso devaluation of approximately 75% against the U.S. dollar—Multicanal encountered rising expenses for U.S. content amid a debt burden near US$509 million. By April of that year, it ceased making payments on all Notes and initiated bankruptcy proceedings in U.S. courts. Investors known as "Huff" faced challenges as Multicanal filed a § 304 petition aimed at avoiding payment obligations.

In 2003, a law passed in Argentina following lobbying efforts by Grupo Clarín imposed restrictions on foreign ownership within communications companies. This legislation disadvantaged Huff and other Note holders who contended that it unfairly favored Clarín and Multicanal’s interests.

Companies and brands

The principal companies and brands under Grupo Clarín consist of:

Company / brand	Product / service
Clarín	Newspaper publication
Carburando	Media outlet specializing in auto racing coverage
Olé	Sports-focused newspaper
Papel Prensa	Manufacturer of newsprint paper
Radio Mitre	Radio broadcasting services
Telecom Argentina (33%)	Services including cable television, internet provision, and mobile telephony
TN	Television channel dedicated to news
El Trece	General television channel
TyC Sports	Channel focused on sports programming