Clarín Group, Argentina’s largest media conglomerate, will have to sell off part of its holdings due to a Supreme Court ruling handed down on Tuesday. The high court declared constitutional the four articles of the Ley de Medios (Media Law), Argentina’s anti-monopoly broadcast law that congress passed four years ago but has stalled in the courts since.
The 2009 law reduces the number of radio and television licenses that a single owner could hold from 24 to 10, which the government has said is necessary to reduce market concentration. But Clarín Group sees it as an attempt by President Cristina Fernández de Kirchner to stifle opposition voices, saying in a statement that it “laments the ruling, which doesn’t take into account the value of journalistic independence as a precursor for freedom of speech.” In its ruling, the Supreme Court found “no evidence in the case that there is a violation of freedom of expression derived from the law.”
As a result, in addition to reducing the number of licenses it holds, the Clarín Group will likely have to break up its Cablevisión-Fibertel holding, the largest cable and internet operator in Argentina, and sell off its Canal 13 television network. The ruling was seen as a victory for the embattled administration of President Kirchner whose party suffered a setback in Sunday’s midterm elections. Clarín Group has not ruled out appealing the law in international courts.