Spain

[ES] Bill on the Amendment of the Private TV Law

IRIS 1998-10:1/25

Alberto Pérez Gómez

Entidad publica empresarial RED.ES

A Bill on the amendment of the Private TV Law 1988 has been presented to the Spanish Parliament. The amendment would allow private broadcasting companies to be listed on the stock exchange. Under the current provisions of the Private TV Law, the broadcasting companies must be public limited companies, and they must have registered shares, in order to allow the public authorities knowledge of who are the owners of these broadcasting companies. Registered shares cannot be sold in a stock market. According to the Bill, the shares would no longer have to be registered. Instead, the relevant individuals or corporations would have to notify the public authorities if they hold a relevant number of shares (5%, 10%, 15%, 20% or 25%, which is the maximum allowed by art. 19 of the Private TV Law). The Bill is up for approvement before the end of the year.