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El Diario Austral de Puerto Montt was founded by Sociedad Periodística Araucanía S.A. (owned by El Mercurio S.A.P.) in 1987 as a competition for El Llanquihue.

In 1993 El Llanquihue was purchased by Sociedad Periodística Araucanía S.A. and El Diario Austral ended printing on January 7, 1993.

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