Copesa (Consorcio Periodístico de Chile) is one of the more important Chilean media conglomerate. Copesa is controlled by Álvaro Saieh, a Chilean business man. Copesa was launched during the mid-1950s by the wealthy Pico-Cañas family. In the areas of newspaper circulation, El Mercurio and Copesa exert an unchallenged media duopoly in Chile. Copesa's success was largely the work of two prominent members of the Chilean right-wing political and business sector, Álvaro Saieh and Carlos Abumohor. In November 1988, these two investors joined forces with other businesspeople and members of the government to revamp the indebted conglomerate. Saieh became the largest shareholder with 33% while Abumohor held 16.6%. A month later, in December 1988, Saileh took control of the political magazine Que Pasa that was incorporated into Copesa. More information...
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