48. Globo Communicação e Participações S.A.

Revenues 2017: € 3.890 billion




Globo Communicação e Participações S.A. is the leading media group in Latin America by a mile. The cornerstone of the success story was put down by Irineu Marinho as early as in 1925 with the foundation of the O Globo newspaper; a radio station of the same name followed only a short while later. The empire finally began its ascent under the rule of the Brazilian military and stands today as the leading provider of both FreeTV and PayTV content in Brazil and established itself as the second largest publisher of books and magazines. With a coverage of 99,99%, Globo TV is the biggest station in Brazil. On top of that, the company is involved in film productions and somewhere in its entangled network of involvements, it also exerts influence on the music industry too. The conglomerate is composed of more than 80 different companies. In total, more than 24,000 people, both national and international, make up its ranks of employees. In recent times, the company could increase its revenue by about 24 % (2010), which is first and foremost a result of the strategic focus on electronic media and the high takings on the advertising market (Share in 2010: 72 Percent).

General Information


Rua Lopez Quintas 303
Jardim Botancio
Rio de Janeiro 2460-010, Brasil
Phone: +55 21 2540 2000
Websites: http://redeglobo.globo.com and http://globoir.globo.com (Investor Relations)

Branches: TV: Free and Pay TV – Marketing, Production, Transmitting Stations, Satellite- and Cable-TV, International Marketing Rights, Journals and Magazines, Publishing Houses, Radio, Cable Operators, Satellite Netwerk Provider, Websites

Legal Form: Non-incorporated firm (Empresa de capital fechado)
Finacial Year: 01/01-12/31
Founding Year: Journal 1925, Group 1965

Table I: Economic Performance (Reais bio.)


¹Source: Examine.com
²Source: veja.abril.com

Executives and Directors



  • Roberto Irineu Marinho, President
  • Joao Roberto Marinho, Vice President
  • Jose Roberto Marinho, Vice President
  • Jorge Nobrega, Councel, Executive Vice President
  • Pedro Carvalho, Councel
  • Antonio Claudio Netto, Judicial Director
  • Claudia Falcao, Director, Human Resources
  • Cristiane Delecrode, Director, Corporate
  • Paulo Tonet Camargo, Vice President, Government Affairs
  • Renata Frota Pessoa, Director, Digital
  • Sergio Marques, Director, Finance



Organizações Globo's success story in indiscerptibly tied up with the Marinho family dynasty – primarily with the son of the founder, Roberto Marinho.  In 1925, his father Irineu founded the O Globo paper. Irinieu dies a mere three weeks after the formation of the newspaper and the responsibility falls into the hands of a family friend for the next five years. In 1931, Irineu's eldest son takes over the rudder, which he would not let go until his demise in 2003.

In the midst of the raging Second World War, when the importance of radio sky-rocketed due to war reporting, Roberto Marinho founded the company's first radio station in 1944 – Rádio  Globo, which is also granted the license to transmit television programs in 1957.  The concession was presented by then-president  Juscelino Kubitschek. Malicious gossip had it that  Juscelino Kubitschek and the license were merely expressions of his gratitude for the moderate opposition by the Globo media group during his election campaign. Be that as it may, this marked the beginning of the family empire's ascent to become the largest media company in South America. Marinho also benefited from two fortunate circumstances: The military dictatorship and the support of the US-American Time-Life-Company.

On the 24th of July 1962, Time-Life and Globo signed a Joint-Venture-Agreement. The contract obligates Globo to give away 30 percent of its profits to Time-Life after the station launch in 1965. In return, the station receives a credit of approximately 20 Million Euro as well as lots of technical support. The deal contradicts the Brazilian constitution, as direct foreign investments in media companies are prohibited. Yet, the government turns a blind eye. However, the agreement also contradicts the business policies of the founder Irineu. He fought hard to prevent the involvement of foreign capital in the Brazilian company.

On the 26th of April 1965, the first Globo channel, Channel 4, goes on air. The weighty support of credit in his back, Marinho can realize his expansion plans. Only one year later, he inaugurated TV Globo São Paulo, the station which he bought off a competitor. The following years will witness a continuation of the shopping spree: In 1986, he buys and launches the TV Globo Belo Horizonte, in the early 70s, the same happens with  TV Globo Recife and TV Globo Brasília. Under pressure from the opposition, Globo is forced to end the contract with Time-Life-Company. The station is nationalised and the joint-venture partner paid off. Still, Roberto succeeds in establishing the first national chain of stations.

Due to the chain's extension, the military dictatorship – which happily hands out all necessary broadcasting licenses – uses the television medium to nurture a national consciousness and a perceived shared Brazilian culture, with the help of Roberto Marinho. Marinho seems to be the ideal partner for all the military's purposes: He owns the leading newspaper as well as the national radio station, he supports the military and he leads his company according to new economical directives.

Up to the end of the 1960s, the advertising industry is only interested in the prime time slots between 6 and 10pm. Marinho introduces a new advertising system regarding this circumstance: Whoever aspires to place adverts during the peak times, also has to buy advertising minutes in unpopular times of the day – the competition prefers to stick to the old formula.

Being the first station in Brazil, TV Globo adheres to the daily routines and habits of its viewers. The result of this philosophy is a close bond between product and consumer, with the latter feeling that their needs and desires are heard. A concept that constitutes Globo's success to this day – such as the Extra newspaper.

In 1995, Marinho creates the largest TV and film production hub in the whole of Latin America with the launch of Projac  (Projeto Jacarepaguá). Stretching over 1.6 millions square metres, the project is home to ten studios, seven production units and disposes of the newest digital technology, the purpose of which is to brush up the negative image, a relic from the years of cooperating with the military dictatorship, yet it seems to result in the exact opposite to happen. The construction of the site triggered criticism regarding the questionable legality of the endeavour as it was financed with subsidies from the government.

In the last years leading up to his death, Roberto Marinho had the tendency to live his life in the past. He is still the official president of the Globo empire, but in interviews and talks, he increasingly talks only about O Globo, the newspaper that had been founded by his father. When the empire's patriarch dies in 2003, his son Roberto Irineu takes over the reigns. He steers the company towards digital business fields. During a business press conference in 2009, the grandchild proudly proclaims, the company would not be using the digital market merely to develop new technologies, but also invent new formats that make it possible for the readers to form educated opinions at any time and any place. “As of this day, we are the go-to Internet solution for all those who are looking for journalistic content in Brazil.”

Yet, all of this cannot belie the circumstance that the consumers still associate the military dictatorship with the Organizações Globo and its dubious tendency to cooperate with the authorities. The people in Brazil are also rather reluctant to forget that when the re-democratisation process in Brazil picked up momentum in the early 1980s, the Globo-Group had still been unwilling to detour from its political crusade and kept supporting the dictatorship. Slogans such as 'The people are not stupid, bring down Rede Globo'  (O povo não é bobo, abaixo a Rede Globo) survived from the 1980s to this day.

According to a study from 2009: The Brazilians still have a critical disposition when it comes to Globo. Both the Time-Life-Deal affair and the military dictatorship's outspoken preference and support for Globo suggest that Globo simply tends to adjust tits flag depending on whence the political wind blows and which opportunity seems to be the most profitable at any given point in time. 

On top of that, the O Globo newspaper fuelled these accusations even further as of late. Hence, the paper opted to oppose the then-presidential candidate Inacio Lula da Silva during his campaign in 1989 and instead supported the opposing candidate Fernando Collor. The top office floor deemed Lula to be 'too limited in his scope to be capable of filling important executive positions'. Collor won. In 2002, Lula finally managed to win the election. After two parliamentary terms, Lula will step down in Autumn 2010. He and Globo – allegedly – have become best buddies.

The relationship between Globo and new president Dilma Rousseff is just as complex as one would expect if history is any guide. During the election campaign, the Globo group clearly supported Rousseff's fiercest competitor, the former mayor of  São Paulo, José Serra. With an astonishingly feverish eye for detail, even the smallest of scandals were constantly dished up time and time again. An example of which is the lobby affair of Dilma's successor as chief of staff,  Erenice Guerra. Globo continued its harassment campaign until Guerra chose to step down. Yet, all of this had no tangible effect on the election outcome, due to great support by the former president Lula, the election of Dilma had never been in any peril whatsoever. It remains to be seen how this strained relationship will evolve in the future and whether Dilma will succeed in arranging a truce with the Globo group.



The founder
Irineu Marinho Coelho de Barros (*19.07.1876 -  21.08.1925)

Ever since his time at school, Irineu – who came from a well-situated background – had been working as a journalist and publisher. He founded the two school newspapers A Pena and O Ensaio as early as 1891 and worked for the O Fluminense magazine on a regular basis. After moving to the city from Nitéroi (a suburb of Rio) he learned the newspaper business from the bottom up at the popular  Diário de Notícias. He started out as a journalist and worked his way up to become the editor-in-chief. He fathered six children with his wife Francisca, whom he married in 1903.

Irineu worked for a well-regarded daily newspaper – A Notícia – and became shareholder of the newly founded first evening newspapers in Rio, the A Noite. 

Irineu is drawing attention due to his tendency of behaving like a defender of national interest at an increasing rate and becomes a fierce critic of colonialism and imperialism. First and foremost, he targets the international conglomerates that are operating in Brazil. For example, he loathes the Brasil Railway Co., which is owned through the majority of an American investor. The constant attacks against the company and the offish stance on foreign investments finally results in him being pushed out from his position as minority shareholder of A Noite by means of a financial coup by his enemy and co-owner Geraldo Rocha during a trip to Europe – Rocha has a positive disposition when it comes to the Brasil Railway Company.

However, Irineu founds his own newspaper in 1925, O Globo, the first issue of which is released on the 29th of July with an initial circulation of approximately 33.500 copies putting down the cornerstone of the Globo Empire as it stands today. Only three weeks after the newspaper's founding, Irineu suffered from a deadly heart attack. Until his eldest son is able to step into his father's footsteps, his mother Francisca recommends that the journalist Euricles de Matos takes over the position as editor-in-chief.

Years of Development:
The son of Irineu might have experienced the founding phase of O Globo, yet feels that a mere 21 years old, he might not be up for the challenge of taking over the position of editor-in-chief from his father. Rather, he decided – after consulting with his mother Francisca – to be the right hand of interim-CEO and editor-in-chief Euricles de Matos. During this stint, he gets to know all facets of the newspaper business and takes over the leadership of the newspaper in 1931, five years after de Matos' death. The brothers Ricardo and  Rogério are also given positions in the company, yet the hereditary hierarchy within the family is not a matter of potential consideration and the eldest son sits at the top of the chain.

Roberto does not hesitate to make good use of this unique chance. No other Brazilian has exerted so much power during the 20th century as the journalist and entrepreneur Roberto Marinho. He turns the company into the largest media and entertainment conglomerate in the country. Over the course of seven decades, he amasses a private fortune of about one billion US-Dollars and Forbes lists him as one of the world's richest people.

The head of the Globo company becomes one of the most important public personalities. He established itself as supporter of art projects and is famous for his interest in sports. He takes part in equestrian competitions up until old age and armed with a harpoon, he goes hunting for big fish underwater. Furthermore, he is awarded countless awards (including the Emmy in 1983) as well as the honorary doctor at several universities. In 1993, he is elected into the Brazilian Academia de Letras, the keeper of Brazilian language and culture. In 1977, he founds the Roberto Marinho Foundation, which does not operate for monetary gain, but seeks to preserve Brazilian culture and environment. Among other things, the foundation financed the restoration of the famous Jesus statue (Cristo Redentor), the national library, the botanical garden in Rio and the Ibirapuera-Park in Sao Paulo

Roberto marries Sellat Goulart in 1946, who bears him four sons. The oldest of which, Robert Irineu is the head of the family empire still. Roberto Sr. married two more times and after his death, almost a hundred years old, he leaves behind twelve grand children and six great-grandchildren. 

Crossing over into modernity
Roberto Irineu Marinho (*13. October 1947)

Just like his father and his grandfather, the current head of the empire learned the craft from the bottom up, with endurance and diligence, getting to know all sides of the business. He begins to work for the company in 1963, goes on to become a journalist and finally – when his father deemed him to be up for the task – the director. Unlike his two predecessors, he studied business studies before joining the family empire at the renowned  Fundação Getúlio Vargas. His next stop is the position as vice-president at Globo TV and last but not least, he becomes the vice-president of the whole company. Ever since 1998, he has been biding his time in management and during the final years of his father's life, he appeared to exert the determining control over the company. However, he does not officially take over the position as president until after his father's death in 2003. Judging by the press conference, the new president, who is flanked at the top of the company by his two brothers, has ambitious goals for the company:” It is our duty to extend the work of Robert Marinho and inform, entertain and educate the Brazilian public. We are doing this because it is important for society as a whole but also it is how we will keep his spirit alive.” Over the course of the change in guard, it is affirmed that the two brothers  João Roberto (for international relation) and José Robert (for social relations and the Roberto Marinho foundation) will be permanent fixtures in the company. The third Marinho to ever stand at the top of the company has three kids, two daughters and one son.

Business Fields


Public Television

The public TV network of the Organizações Globo operates under the name of Rede Globo and – according to in-house statements – is the largest station in Latin America and as such, the fourth largest in the whole world. Founded in 1964 and on air since 1965, the group celebrated its 45 years of existence in 2010 with lots of pomp & racket and does not hesitate to point out that 120 million viewers consume the Rede Globo programs on a daily basis. The network disposes of 122 self-owned and connected stations in all of Brazil and the Portuguese community abroad is provided for by means of TV Globo Internacional.

Cable television and Pay TV
Globo's NET is the biggest provider of broadband connections in the country. It provides the subscribers with cable television, broadband Internet and telephone through one single cable. Sporting approximately four million cable television subscribers, NET holds a market share of about 50 percent and the market share of the broadband division comes close to 40 percent.

The most popular and biggest Pay TV channel of Latin America is a 100-percent subsidiary of Organisações Globo. Founded in 1991, Globosat initially began its victorious crusade on the Brazilian market, extending onto the whole of Latin America subsequently. Nowadays, the station is made up of 27 channels, which broadcast formats such as Big Brother, Playboy TV or sports programs. The newest hit is scheduled to be a channel that caters for women in particular, VIVA. According to a survey taken by advertisers, four out of four of the most popular channels are operated by Globosat.

In general, radio in Latin America holds a far less crucial position as television or newspapers and magazines. Operating as Sistema Globo de Rádio (SGR), the Organisações Globo owns eight in-house radio stations and is involved in many other, national radio companies.

The company bundles all its activities on the Brazilian newspaper market under the InfoGlobo name. Although many sources tend to claim that the A Noite newspaper is the primary product of the company, it had never belonged to the company in the first place. Founding father had merely been a minority shareholder of the newspaper for a short time before founding his own newspaper in 1925 with O Globo. Other newspapers in the portfolio are  „Extra“, „Expresso“, „Valor Economico“ and the Agência O Globo news agency.

Magazines and Books
The company is also active in the book business, operating as Globo Livros under the Editoria Globo. Due to the fact that reading is only of a modest popularity in Brazil and books are rather expensive, Globo's book business only a small and marginal branch of the media business and the necessity of maintaining it seems to come more from a sense of completion rather than profit. The relevant steps taken in the business are less driven by a desire for profit but more based on tactical decisions. A study from the year 2004 established that there are only 1500 book stores in the whole of Brazil. In 2002, only 345 million books were sold in the country, which is home to 180 million citizens. As a comparison: 120 million Japanese people buy 1,4 billion books within the same period of time.

In August 2009, the Ibope Nielsen Institute published a ranking for Brazil's most popular Internet gateways for the first time. According to which, 65,8 million Brazilians over 16  use the Internet (at home, at work or at public institutions). 46,7 million use the Internet from their own computer at home or at work. In the Nielsen Ranking, Globo landed on place 6, sporting 22,918 Unique page impressions. The list was topped by Google with 34, 137 UPI and the social network Orkut with 27,893, which is almost a necessity in life when it comes to the Internet habits of Brazil's youth. Hence, Globo managed to position itself even before Youtube (22, 434 UPI), Yahoo (21,781 UPI) and Blogger (19, 134 UPI)

Film production
Since 1998, the Globo company and its subsidiary Globo Films has also been active on the film production market. The primary company goal is to 'produce high quality and sophisticated films', which promote the 'national culture, strengthen the audiovisual industry of Brazil, bring in new talent and facilitate the synergy between cinema and television.” So far, Globo Films has produced more than 90 films, which lured 90 Million people to the cinemas. This particular branch of the company is outspokenly non-profit based but focussed on cultural output and rather successful it is as well. The percentage of viewers who tended to watch Brazilian films in the cinema was as low as 0,1 percent in 1993 (45.500), yet ten years later, more than 22 million people (21 percent) enjoyed Brazilian productions. Films such as Se Eu Fosse Você and „Cidade de Deus' enjoyed great success, the latter had even been nominated for four Academy Awards.

In 2010, the Globo Group generated about 72 percent of its revenue through advertising. The 7,5 billion Reais primarily come out of the sale of advertising slots in both free and pay TV and the product placement and merchandising, which is a widely distributed phenomenon in Brazil. The placement of products as well as possibility to buy the celebrities' favourite products in shops associated with the Globo chain appeals to the consumers of telenovelas in particular. Further sources of income are the traditional sale of print adverts in the company's print products and on the group's online pages.

Another lucrative business branch is the sport sponsoring. The organisers are buying advertising space off of Globo for the respective event. It is expected that Globo will generate astonishing revenues due to the upcoming FIFA World Cup in 2014 and the Olympic Games in 2016.


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