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Russia May Restrict Foreign Ownership of Mass Media
Russia will impose strict limits on foreign ownership of its mass media by passing a relevant law in the near future, a Russian lawmaker said on April 7.
"A draft has been submitted to the State Duma (lower house of parliament), which is aimed to impose tough restrictions on foreign ownership of Russian mass media organs," Andrei Klimov, leader of the Duma's regional deputies' group and author of the draft, told reporters.
The bill suggests that foreign countries or citizens, as well as Russian legal entities with more than 30 percent of foreign investment, should be prohibited from becoming founders or co- founders of Russian mass media organs.
The draft will also impose a limit of 25 percent of foreign capital in the already existing mass media organs.
The current law on mass media has a provision dealing with the problem, which prohibits citizens of other countries to become founders of Russian mass media, but says nothing about a foreign country or a firm, Klimov noted.
He said that neither does the law rule out a possibility of a foreigner purchasing an existing mass media organ, which would run counter to the spirit of the fundamental law of Russia.
Klimov predicted that the Duma would discuss and approve the act very soon.
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