VMedia media group suspends operations in Paraguay

VMedia, a media conglomerate part of Grupo Vázquez, has suspended its operations and employee contracts for a period of 90 days without pay. The suspension affects approximately 199 workers across various outlets, including Diario La Tribuna, Crónica, Radio La Tribu 650 AM, La Tribu Stream, and Radio SuperDepor 1120.

The decision follows the Central Bank of Paraguay (BCP) ordering the dissolution of ueno bank, which served as the primary financial support for the conglomerate. Representatives from the Sindicato de Periodistas del Paraguay (SPP) have described the situation as extremely grave, noting that many employees have their personal resources tied up in the bank.

While VMedia issued a statement claiming the forced pause is due to circumstances beyond their control, labor representatives are seeking intervention from the Public Ministry to guarantee workers' rights. There are indications that the company may face liquidation or a sale during this 90-day period.