Grupo Globo, Brazil's largest media conglomerate, fired Frederic Kachar on Thursday (15), its director-general for Print Media and Radio, after the disclosure of private conversations between the executive and Daniel Vorcaro, the former controlling shareholder of Banco Master. The news was first reported by columnist Mônica Bergamo in Folha de S.Paulo and confirmed in an official statement from the company.
According to the statement, reproduced by the Portal TV e Streaming website, the company gained access on Wednesday (14) to messages exchanged between Kachar and Vorcaro from October 2023 to July 2025. Globo said the content shows "an inadequate relationship between the executive and an advertiser".
"Editora Globo reaffirms its commitment to ethics and transparency and the absolute editorial independence of the journalism of its outlets," the statement reads, citing the group's critical coverage of the Master case as proof of that commitment.
Kachar had spent 29 years at the group and oversaw Editora Globo, publisher of the newspapers O Globo, Extra and Valor Econômico, and the Globo Radio System, which includes the news station CBN. The company said a successor will be announced soon.
The advertiser at the center of the Master case
The ties between the executive and the banker ran through advertising money. In May 2024, Banco Master sponsored the Valor Econômico Brazil-USA Summit in New York, an event held by the group's financial newspaper. Kachar opened the event, thanked the bank "in the person of Daniel Vorcaro" and mentioned a "personal relationship" with the then banker, according to reporting by Jornal GGN at the time.
Vorcaro controlled Banco Master, a mid-sized lender liquidated by the Central Bank in November 2025 amid allegations of fraudulent credit operations, and he faces Federal Police investigations over the bank's collapse and a failed attempt to sell it to BRB, the state-owned bank of the Federal District. The messages that cost Kachar his job end in July 2025, four months before the liquidation.
For the advertising market, the episode renews scrutiny of the distance between those who sell ads and those who produce journalism inside Brazil's big media groups, at a time when digital banks have become a significant source of ad revenue. For audiences, the dismissal leaves a direct question: whoever takes over Editora Globo and the radio network inherits the task of showing, in practice, that coverage of the Master case remains untouched.