Argentina: Cablevision partner wants Clarin sale

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Associated Press

Posted on December 5, 2012 at 7:32 PM

Updated Wednesday, Dec 5 at 8:04 PM

BUENOS AIRES, Argentina (AP) — Argentina says a leading partner of Grupo Clarin wants the media company to sell off its controlling stake in Cablevision network and thus comply with the nation's law against media monopolies.

Government regulator Martin Sabbatella said the proposal from Fintech Advisory arrived at his offices on Wednesday, just ahead of a Friday deadline for media companies to present their divestment plans.

Sabbatella says Fintech's "attitude is reasonable, responsible, because they want to be within the law."

Clarin is challenging the law as an unconstitutional violation of property rights that threatens press freedom. Spokesman Martin Etchevers said the company did not approve of any presentation made by its minority partner.

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