Clarin may have to divest assets in 2013

24 May 2012

Argentine media giant Grupo Clarin may be forced to sell some of its assets, following an announcement by the Supreme Court that a suspension of legal limits on media ownership will end on 7 December 2012, NexTV Latam reports. In December 2009 Clarin won a court suspension of Article 161 of the Audiovisual Service Act, which states that companies exceeding licence limits set forth by the law must make disinvestments within one year. Article 45 specifies that up to ‘one pay-TV radio broadcasting licence is allowed in a single local coverage area provided the petitioner does not hold any free-to-air TV licence’ and vice versa. The Supreme Court has ordered that the three-year precautionary measure will mature on 7 December. After this date, Clarin could be forced to sell those media units exceeding the number of licences allowed by the law. In response, Clarin newspaper reported that ‘the main lawsuit, which was started by Clarin Group and argues said article’s unconstitutionality, is awaiting resolution.’ Clarin owns a number of TV channels, as well as cable operator Multicanal.

Argentina, Multicanal Argentina