AsiaMedia :: KOREA: Newspapers can own broadcasting firms

AsiaMedia :: KOREA: Newspapers can own broadcasting firms: "Transition team spokesperson says Lee Myung-bak's administration will draft new legislation to provide media companies more autonomy and growth opportunities

The Korea Times
Tuesday, January 8, 2008
By Kang Hyun-kyung

Print media firms are likely to be allowed to own broadcasting companies and vice versa, the presidential transition team said Tuesday.

Lee Dong-kwan, spokesman of 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.

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."