La Capital (Rosario)

Its slogan is “El decano de la prensa argentina” (The senior member of the Argentinian press) as it is the oldest newspaper in circulation in Argentina. In addition, it is one of the most important newspapers in the interior of Argentina and the most popular newspaper in Rosario, the third largest city in the country. In November 2018, 19,855 issues of La Capital were sold across the country (over 17,000 in Rosario).

Historically, it is the media that receives the largest part of the official advertising from the Government of the province of Santa Fe. The newspaper is able to cover the salaries of all its employees with those funds. In 2018 official advertising amounted to USD 2.2 million ($36 million).

The newspaper was founded in the nineteenth century by Ovidio Lagos, who was also member of one of the most traditional families in Rosario, to promote Rosario’s turning into Argentina’s capital. The funds for the newspaper were donated by Justo José Urquiza, the first President of the Confederación Argentina, which advocated for a federal political system.

The Lagos managed the newspaper for generations. In 1997 the founder’s great-great-grandchildren sold 75% of the newspaper’s stock to Grupo Uno, owned by Daniel Vila (media businessman) and José Luis Manzano, who had been legislator and minister of the Interior five years earlier, when he had had to flee to Miami due to the several corruption claims against him.

In early 2000s, Vila and Manzano were controlling shareholders of all La Capital‘s media (which also included newspaper El Ciudadano, newspaper La Nueva Hora from Entre Ríos, and radio stations LT8, FM 99.5, LT 39, LT 41, FM 90.1, LT 15 and FM 89.3). However, they shared a trust with the Lagos family. In addition, media businessman Orlando Vignatti joined the group in 2000. He purchased 25% of the group’s stock. As a result, the relationship between the new owners and the newspaper’s founding family deteriorated completely. Carlos María Lagos even filed a criminal lawsuit for non-payment and embezzlement against the paper’s new owners. The Vilas ended up victorious, after the Lagos family’s attorney and the judge that was investigating the case were formally accused of bribery. A hidden camera recorded both when committing the crime, and the recordings were brought to justice. Currently, the Lagos family has some residual stock in La Capital. They did not even participate in the celebrations for the newspaper’s 150-year anniversary.

The owners of La Capital were also involved in a judicial scandal in 2015, when the then General Manager, Pablo Abdala, was arrested in a case for a large real estate scam. His case was dismissed in 2018.

Today Grupo América (former Grupo Uno) is negotiating the newspaper’s sale. Potential buyers include Gustavo Scaglione, new owner of Canal 3 from Rosario and the other media of Grupo Televisión Litoral from Rosario, and Nahuel Caputo, owner of newspaper El Litoral from Santa Fe.