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International relations in every realm have devolved into tit-for-tat complaints. Trade and tariff wars rage on with no end in sight. It’s the same with real wars. The news media is caught up in this. The battleground is fake news.
The Russian Federation’s multi-purpose regulator Roskomnadzor is preparing to punish foreign media. “Amendments to the law on mass media will be prepared in terms of regulating the activities of foreign media,” said Alexander Zharov, head of the agency, quoted by news portal Meduza (August 1). “They will provide for millions in fines for foreign media.”
“Roskomnadzor has repeatedly said it would rely on the principle of reciprocity in the case of discriminatory attitudes towards Russia media abroad,” said its statement, quoted by Moscow Times and Reuters (August 1). Amendments to current law are expected to be read by the State Duma (lower house) “within ten days.” (See more about media in Russia here)
This came a week after UK media regulator OFCOM ordered Russian state international broadcaster RT, best known as Russia Today, to pay GB£ 200,000 fine for “failing to preserve due impartiality.” RT is licensed to broadcast in the UK under OFCOM rules. In many jurisdictions it is considered a propaganda outlet, along with Russian news agency Sputnik, for espousing a range of conspiracy theories and factually dubious reporting current events. OFCOM imposed the fine, which is held in abeyance pending judicial review, due to RT’s reporting on poisoning in the UK of Sergei Skripal and his daughter by Russian agents and the Syrian conflict. OFCOM did not recommend license suspension. (See more about propaganda here)
After OFCOM announced the punishment (July 26), Russian authorities began talking up “consequences.” With no hint of irony, Roskomnadzor said it will be applying the same rules on impartial news coverage used by OFCOM on UK and other foreign media operating in the Russian Federation. Sputnik (July 27) suggested the BBC and Reuters might be targets.
OFCOM issued findings in its investigation into RT and Sputnik last December. Afterward, RT was allowed to make representations on the seven mentioned 2018 breaches. A spokesperson for the channel said OFCOM did not consider “alternative viewpoints.”
Wealthy investors continue to circle the media sphere. Opportunity abounds, they believe, with content, maybe subscriptions, advertising sometimes. Quite attractive, to some, are newspapers, even those in financial distress. It has become contagious.
A newspaper cluster serving the metropolitan south of France, including well-respected Nice-Matin, have been subject of intensely competitive bidding in recent weeks between shipbuilding billionaire Iskandar Safa and tech billionaire investment banker Xavier Niel. M. Safa already owns the conservative weekly news magazine Valeurs Actuelles. M. Niel is a significant shareholder in French newspaper of record Le Monde and principally owns French telecom group Iliad, operator of ISP and mobile-com Free.
At the end of last week, M. Niel through investment house NJJ Capital acquired from Belgium energy producer/telecom Nethys, subsidiary of Publifin, its 34% stake in Nice-Matin, reported Belgian public broadcaster RTBF (July 28). Also transferred was the 11% stake in Marseille publisher La Provence/Corse Matin. M. Safa officially withdrew his bid, reported Le Figaro (July 29), after M. Niel and Nethys completed negotiations for the minority holding.
Like many newspapers Nice-Matin has had a cashflow problem. In March the publisher sought “judicial safeguard,” explained news director Denis Carreaux to Le Point (July 16). Nethys wanted to exit its 34% stake rather than carry on with financial support. M. Safa had been part of a consortium bidding for a stake in Nice-Matin back in 2014 that drew the ire of employees for proposing news room cuts and Nethys acquired the minority stake, employees stake being 66%, which M. Niel will acquire by February next year. (See more about media in France here)
Elsewhere, M. Niel is fighting with his partners in Le Monde Group. Two weeks ago investment banker Matthieu Pigasse and Czech energy billionaire Daniel Kretinsky entered into exclusive negotiations with Spanish publisher Prisa for its 20% stake in Le Monde Libre, which holds a 75% stake in Société éditrice du Monde (SEM), the majority stakeholder in Le Monde Group. After the death of Pierre Bergé the third partner in Le Monde Libre, M. Pigasse and M. Niel divided those shares, less the Prisa holding, then M. Pigasse sold 49% of his stake to Mr. Kretinsky, known recently for acquiring several French magazine titles and Eastern European radio assets from Lagardère Active. Acquiring the Prisa stake would, then, put M. Niel at a voting disadvantage. Investment bankers deal with these things everyday.
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