Legislature relaxes ban on government owning shares in media companies

By Jake Chung / Staff writer, with CNA Add TT as Preferred Source The Legislative Yuan yesterday passed an amendment to the Cable Radio and Television Act (有線廣播電視法) to ease a ban on government investment in cable television system operators, allowing the government to hold up to a 1 percent indirect, noncontrolling stake for purely financial purposes. The act prohibits political parties, the government and the military from owning shares in cable TV operators to safeguard press freedom, Chinese Nationalist Party (KMT) Legislator Weng Hsiao-ling (翁曉玲) said. However, the law penalizes cable TV operators rather than investors, she said, adding that operators have no way of preventing people from acquiring their shares. A camera operator films a news conference in Taipei on May 16, 2024. Photo