SAO PAULO, Sept 13 Grupo Globo SA, Latin
America's largest media conglomerate, agreed on Tuesday to buy
out the stake that partner Grupo Folha had in Valor Econômico
newspaper for an undisclosed sum, just as a harsh recession hits
the nation's largest publishing firms.
In separate statements published on the websites of O Globo
and Valor, both Globo and Folha said the transaction requires
regulatory approval. Folha, which is Brazil's largest paper in
circulation, and Globo owned half each of Valor Econômico, which
was created around 2000 to focus on finance and economics news.
(Reporting by Guillermo Parra-Bernal and Tatiana Bautzer;
Editing by Chizu Nomiyama)