On 1 March 2006, The Daily Journal, which had dealt with financial problems, was bought by Julio Augusto López, a Venezuelan entrepreneur of Peruvian parents that allegedly had links to the Venezuelan government. The Daily Journal, previously known for "its editorial independence" then obtained a reputation of being a "chavista" newspaper, with the stance becoming aligned with Hugo Chávez's government and the owner, Julio Augusto López, allegedly becoming a member of the "Bolivarian bourgeoisie".
On March 1, 2006, The Daily Journal, facing financial difficulties, was acquired by Julio Augusto López, a Venezuelan entrepreneur with Peruvian heritage who allegedly had ties to the Venezuelan government. Previously known for its editorial independence, The Daily Journal later became associated with Hugo Chávez's administration and López reportedly joined the "Bolivarian bourgeoisie."