Successful Mexican Telecommunications Executive Buys El Financiero Newspaper

Nov 26, 2012, 16:02 ET from COMTELSAT

MEXICO CITY, Nov. 26, 2012 /PRNewswire/ -- Manuel Arroyo-Rodriguez, a businessman with extensive experience in the telecommunications industry and the owner of COMTELSAT, yesterday assumed his role as Chairman of the Board of Directors of El Financiero, after acquiring this specialized newspaper Rogelio Cardenas founded over 30 years ago.

Arroyo purchased the newspaper after lengthy negotiations and appointed Alejandro Hernandez as interim CEO and Editor.

Manuel Arroyo founded COMTELSAT in 1993, a leading hi-tech solutions company that meets the needs of the Broadcast, Cable, Video/Audio Production and Post Production, and Film and Telecommunications markets. He also chairs AMPIC, the Mexican Association of Communication Industry Suppliers comprising equipment, components and solutions suppliers for this important industry.

Arroyo met last night with the newspaper staff and announced that El Financiero is entering a new phase. "Mexico needs business and financial journalism that is aligned with the agenda of structural changes that are able to give Mexico high growth rates. A specialized journalism that addresses and analyzes details that offer constructive criticism while also proposing viable solutions; journalism that uses the world's latest technology and is at the height of the 21st Century and the telecommunications revolution," he added.

Arroyo continued by saying, "This is the vision El Financiero will apply, as of today, to begin a gradual process of vocational and technological modernization up to par with contemporary journalism and the challenges Mexico faces."

When speaking of the exercise of freedom of speech, Arroyo said: "I believe that accurate information is the fullest degree of truth possible and that truth is the greatest back up for the exercise of freedom. This is the conviction we will use to begin this change," he added in his closing remarks.

Carlos Bonilla
AB Estudio de Comunicacion
Phone: + 52 (55) 5525-1640