Media industry discusses light-touch regulation of foreign capital
quinta-feira, 13 de junho de 2002 , 17h56 | POR REDAÇÃO

Broadcasters and other media groups are discussing proposals to regulate foreign investment in the industry following the passage of a constitutional amendment allowing non-Brazilian companies to own up to 30% of equity in newspapers, TV and radio stations etc. The idea is to make the rules simple and avoid controversial proposals so that regulation can be steered through Congress quickly. In the case of broadcasting this probably means making adjustments to existing licenses in line with the other main constitutional change, which allows legal entities and not just individuals to control media groups. Cross-ownership restrictions remain an obstacle, but no changes are likely in this area for now because it?s controversial. Seasoned observers say it isn?t clear whether the bill will be sent by the Executive or submitted by a member of Congress, but the expected timeframe is 60-90 days.


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