CCN, which owns the Trinidad Express, Trinidad's TV6 and the Grenada Broadcasting Corporation, held a small shareholding in GPI prior to the recent share sale by Neal & Massy. When Stabroek News had started publication in 1986 several regional newspapers had subscribed for small amounts of shares as an act of solidarity.

"It is nice to have a group like CCN on board as we may be able to secure technical assistance from it. I will probably approach them as one of the areas in which we need strengthening is the pre-press and press operations," GPI Chairman, David de Caires said in an invited comment. Ken Gordon, former chairman of CCN, was a key supporter in 1986 to get the Stabroek News on the road.

Neal & Massy's subsidiary, Associated Industries Limited (Ainlim) was a founding shareholder of GPI but in the 1990s when GPI purchased the Robb street premises it had been renting from that firm, Ainlim accepted further shares in GPI as part payment, taking its shareholding up to 20%.

However, de Caires noted that Neal & Massy does not normally hold minority interests in companies but Sydney Knox, the former executive chairman of the firm, had been very supportive of GPI from the outset and held on to the company's shares even though no dividends were declared for many years as any profits made were reinvested in the company.

GPI for the second year running has shown a profit, de Caires said, and is likely to declare its second dividend in a row this year. Neal & Massy has now decided to opt out and CCN opted to buy its interest. The earning per share of CCN, a public company, in 2003 reached 54 cents, an increase of 32 per cent on 2002's figure of 41 cents.

The issue of whether CCN will have a seat on GPI's board has not yet been decided, de Caires said.

Asked whether he had any plans of taking GPI public, de Caires, with his family a major stockholder, says the company is not yet an attractive investment.

"To be able to take a company public you have to build a good record of profits and dividends. We have made reasonable profits in the last two years. If we can maintain that and create a dividend record, going public can well be something we can consider at some stage. But the company is not an attractive investment at this stage...." de Caires said.

Stabroek News started publication in November 1986 as a weekly publication (the first issue was distributed free) and moved gradually to daily publication in 1993.

De Caires says he has no plans of retiring and hopes to continue to take an interest in the paper for some time to come.

He notes that for some time he has not played a key role in the editing of the newspaper, which is produced by the Editor, Anand Persaud and the Sunday Editor Anna Benjamin. "I am very happy with the top level editorial team we have," de Caires said.