New York, February 2, 2024: Media Development Investment Fund has invested in the Argentinean independent news company elDiarioAR. The investment will help the media company to expand its audience and develop its membership strategy, as well as explore and diversify revenue streams, in a country where independent journalism is more needed than ever due to a deepening economic and institutional crisis.
Launched in 2020 through a partnership with the Spanish elDiario.es, elDiarioAR is an independent news and information outlet that addresses an unmet information need against a backdrop of economic, political, social and press upheaval. Its editorial focus is a new agenda for social change – gender, environment, climate change, poverty, inequality, human rights and social issues – and the relationship between those in power and social change.
Argentina’s economic crisis includes spiralling inflation and a looming recession, creating a challenging environment for independent media to thrive. However, the growing institutional crisis makes the need for independent voices more important than ever, as journalism plays a crucial role in protecting and strengthening democracy, creating an opportunity for high-calibre, public interest media.
“MDIF is proud to invest in elDiarioAR, an important independent media organization whose journalism contributes to pluralistic public debate in Argentina,” said Ana Soffietto, MDIF Program Director for Latin America. “We are confident that, with our support, elDiarioAR will continue to build a robust, dynamic business around the principles of quality journalism.”
“MDIF’s support gives us certainty to focus on our journalistic work in the midst of a difficult economic context, which challenges the sustainability of Argentine companies,” said Delfina Torres Cabreros, elDiarioAR’s Editorial Director. “The contribution, which in no way compromises our editorial approach, helps the newspaper to remain faithful to its mandate of independence and to give priority in our decisions to journalistic criteria over any other factor.”