Copesa

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Copesa (Consorcio Periodístico de Chile) is one of the more important Chilean media conglomerates. Copesa is controlled by Álvaro Saieh, a Chilean businessman. 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, the 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, which was incorporated into Copesa. Copesa published the news daily La Tercera, which is the second most read newspaper in Chile. In 2002, La Tercera had a daily circulation of about 210,000.