Emergency Bid Seeks to Stall Portugal’s TiN Magazine Shutdown

Portugal’s magazine racks may soon lose some familiar faces. The Tribunal Judicial da Comarca de Lisboa Oeste has already ordered Trust in News’ liquidation, yet its court-appointed administrator is pleading for a grace period that would keep the presses rolling until 8 October. The extra weeks could decide whether heavyweight titles such as Visão, Exame and Caras find new owners—or vanish along with roughly 80 jobs.

Why this matters if you live, work or invest in Portugal

Even for foreigners who digest most news in English, the disappearance of TiN’s portfolio would narrow the country’s media pluralism. Visão has long been a gateway for non-native readers polishing their Portuguese; Exame supplies data on the corporate climate many expats operate in; and Jornal de Letras is a staple for parents with children in bilingual schools. A collapse could also ripple through the freelance translation, printing and distribution ecosystem where many internationals pick up side income.

A bankruptcy drama in slow motion

Founded in 2017, TiN expanded quickly by purchasing 16 periodicals from established groups re-structuring after the Eurozone crisis. But the shopping spree left a debt load of about €20 M, and by early 2025 the company sought court protection. In May, 77% of creditors approved a restructuring blueprint that stretched tax and social-security arrears over 17 years and split commercial debt into 180 monthly instalments starting 2026. The honeymoon ended when TiN missed its first payments to Autoridade Tributária and Segurança Social on 30 June, prompting the judge on 18 July to scrap the plan and green-light immediate liquidation.

Creditors at cross-purposes

The administrator, André Pais, now argues that several stakeholders—most vocally the editorial board of Visão—want time to examine "alternative continuity solutions." Tax authorities and Social Security insist on hard guarantees before any delay, while BCP bank is reportedly open to breathing space if collateral stays untouched. Workers, who launched an open-ended strike over unpaid salaries on 20 June, favour whatever route secures back pay fastest. Behind the scenes, shareholder Luís Delgado is preparing an appeal that could stall liquidation beyond the autumn.

What becomes of the magazines?

Under the rejected rescue plan TiN would have suspended or sold eight titles, reduced the frequency of four more and let roughly 50 employees go. With liquidation back on the table, everything—including the brand archives and subscriber databases—could be auctioned. Industry chatter points to Impresa (owner of SIC television) and a Lisbon-based private-equity fund as potential bidders for Visão. Courrier Internacional, already idle since early 2024, looks least likely to resurface unless a niche publisher steps in.

Can the group still dodge the guillotine?

Legally, TiN’s only hope is a successful appeal or a fresh insolvency proposal acceptable to the big public creditors. Portuguese law allows a judge to reverse a liquidation order if a "substantially improved" plan arrives before assets are sold. The window is narrow: inventory of property and intellectual rights begins this month, and fire-sale notices could hit the Diário da República well before the 8 October pause expires.

What expats should keep an eye on

If you subscribe to any TiN magazine, your next renewal reminder may arrive from a different company—or not at all. Freelancers owed fees should file claims swiftly once the insolvency list reopens. Investors in media-tech start-ups might sniff opportunity: a distressed sale could free up distribution licenses and seasoned staff. Finally, job-seekers in Portugal’s tight creative market should monitor union channels for potential redeployment schemes negotiated post-liquidation.

Key dates ahead

• mid-August: court rules on the administrator’s request for a temporary suspension of closure.• September: creditors meet to weigh fresh proposals or approve asset bidding rules.• 8 October: last possible day of the stay—after that the liquidator can proceed unimpeded, unless an appeal is upheld.