CROSS-OWNERSHIP MEDIA LAWS TE BE RELAXED IN SOUTH KOREA
January 14th 2008 10:35
Print media firms in South Korea will probably allowed to own broadcasting companies and vice versa, the presidential transition team said yesterday.
The Korea Times said that Lee Dong-kwan, spokesman for the team, told reporters that the next government will seek alternative legislation replacing the current Newspaper Law to give press companies more autonomy.
The spokesman said the new legislation will also focus on strengthening the financial health of the media industry.
Mr Lee said the incoming Lee Myung-bak administration will ease regulations prohibiting cross ownership between media businesses and get rid of stumbling blocks to the growth of their business.
Experts predict that if the alternative legislation is enacted, newspapers could reach nationwide readers with content-oriented, in-depth coverage through broadcasts.
Major newspaper businesses have called for revisions of the current law.
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