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Inside New Media Ownership Law
September 29, 2014 10:47

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The Russia parliament has passed in final reading a bill limiting foreign ownership in the country’s media in a move to bolster national security amid a raging propaganda war over the Ukraine crisis.
The law authored by Liberal Democrat Vadim Dengin, Vladimir Parakhin (Fair Russia) and Denis Voronenkov (The Communist Party) bans foreign companies from owning more than 20 percent in Russian media.
Today, the ownership is only limited by a 50 percent stake for TV networks, and does not apply to print media.
The changes will take effect starting from Jan 1, 2016, but the publishing industry will have one more year to sort out the ownership issues.
Critics say the move will further suppress freedom of speech in Russia, and its main target is rumoured to be the leading business daily, Vedomosti, and the Russian version of Forbes.
Below is the list of foreign entities affected by the law that was fast-tracked by the State Duma:
Newspapers and Magazines
·        Sanoma (Finland): Vedomosti, The Moscow Times, The St. Petersburg Times, Cosmopolitan, Harper's Bazaar, Harvard Business Review Russia, Men's Health, National Geographic Russia, Robb Report Russia, Popular Mechanics Russia.
·        News Corp (U.S.) co-owns Vedomosti via The Wall Street Journal.
·        Pearson (Britain) co-owns Vedomosti via FT Group.
·        Hearst Corporation (U.S.): Elle, Maxim, Marie Claire, Psychologies, Elle Girl, Elle Decoration, Schastlivie Roditeli, Departures, Cosmopolitan, Harper's Bazaar, Harvard Business Review Russia, Men's Health, National Geographic Russia, Robb Report Russia, Popular Mechanics Russia.
·        Axel Springer (Germany): Forbes Russia, OK! Magazine, Gala Biography, GEO, GEO Traveller, GEOlenok, and
·        Conde Nast (U.S.): Vogue, GQ, Glamour, architecture magazine AD, Tatler, Conde Nast Traveller and Allure.
·        Burda (Germany): Playboy, and many others.
·        Bauer Media (Germany)
·        Metro International (Sweden): Metro
·        CTC Media and Modern Times Group (Sweden): Entertainment channel CTC, family channel Domashny, male-oriented Perets.
·        Walt Disney (U.S.): Disney Channel
·        Discovery Communications (U.S.), Modern Times Group (Sweden), Viacom (U.S.), Sony Entertainment Television (U.S.)
·        EM-Holding (U.S.): Ekho Mosvky

Author: Mikhail Vesely

Tags: Russian law Vedomosti    

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