Palacios, who presented a news programme called "El Viento" on Radio Lemas, was shot three times in the chest by two men on a motorcycle as he was going to the radio station on 11 of January 2005 in the eastern border town of Cúcuta.
Despite his own injuries, Palacios managed to drive himself home. Relatives immediately rushed him to the San José hospital in Cúcuta where he died.
Aged 55, Palacios had a very critical style and was well-known for exposing corruption. He had claimed that local politics were financed by money from drug trafficking.He had already survived a murder attempt in 1996 and a bomb in 1998. In October, he received several anonymous calls from Venezuela threatening to kill him if he did not stop talking.