One of the areas in which the AFA Group has been investing is media, in the constant aim of providing the population with a high quality and rigorous service that deepens its ties to the community and contributes to the development of local traditions and culture by disseminating information to local people and expat communities living overseas.
Grupo AFA’s entry into the media sector started in 2001 with the creation of Rádio Calheta. In 2003, the group maintained its focus on broadcasting with the acquisition of Santana FM. The former covers the entire southwest of the island and the latter all of the north and east.
In 2017, AFA Group continued its investment and acquired 50.5% of the share capital of EJM, owner of Rádio JM and Jornal da Madeira. This investment resulted from the privatisation drive of the Madeira Regional Government aimed at ensuring the independence of the written press in Madeira.
In view of the growth of this business area, Verbum Media – Comunicação Lda. was created in June 2020, a holding company for all AFA Group media interests.
It was through Verbum Media that AFA Group strengthened its position in the media sector with the acquisition of 36,8866% of EDN’s capital. This led to a direct interest in Diário de Notícias da Madeira and an indirect one in the remaining subsidiaries, namely Publifunchal, Imprinews, Rameventos, SDIM and TSF.
Media is currently a consolidated area within AFA Group’s business portfolio and one that will contribute to the diversification of its future activities.