The Tax and Customs Authority (AT) and Social Security Institute (ISS) have voted in favor of the insolvency plan for Trust in News (TiN), the publisher behind magazines like Visão and Exame. This support represents nearly half of the €35.2 million in creditor claims involved in the vote. The court will now announce the final tally and decide on the plan’s approval.
Employees have received 30% of their April salaries so far, with another 35% expected early next week, but no timeline is set for the remaining payments.
TiN’s plan includes a phased capital injection of up to €1.5 million from sole shareholder Luís Delgado to strengthen finances. It also proposes suspending or selling loss-making titles such as TV Mais, Caras Decoração, and Visão Saúde (all but Telenovelas are already suspended), alongside major staff reductions aligned with these cuts.
To boost revenue, TiN aims to expand digital subscriptions, improve e-commerce, develop podcasts and videos, and pursue brand licensing. The restructuring targets a leaner, more sustainable business model focused on digital growth, with medium-term profitability and job preservation.
Debt repayments will be spread over many years, including 150 installments for AT and ISS, plus 12–15 years for other creditors. The company also plans a cost-cutting task force to renegotiate contracts and suggest revenue-raising measures under insolvency oversight.
Founded in 2017, TiN runs 16 media brands across print and digital platforms. The insolvency plan seeks to avoid liquidation and maintain operations during a challenging transition.
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