Media conglomerates
Communications Ministry is drafting bill to allow foreign ownership of media
quinta-feira, 18 de julho de 2002 , 18h02 | POR REDAÇÃO

Communications Minister Juarez Quadros says his staff are currently working on a bill to implement the recently passed constitutional amendment (Article 222, paragraph 4) that allows foreign investment in Brazilian broadcasters and other media. It will be short and sweet, he notes, simply stipulating how media firms can allow foreign capital in. It will apply to all segments, from TV and radio to newspaper and magazine publishers. Initially the ministry planned to restrict the bill to electronic media, but its lawyers recommended following the Constitution closely. The Government will have to be informed of changes in the equity of broadcasters, which operate under license. Newspaper publishers don?t, so they may have to report only to Congress. Mr Quadros says he expects to publish a final draft of the bill for public comment and review early in August. It could go before Congress later in the month, hopefully in time to pass before the October elections distract everyone?s attention.


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