Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EU rights official decries Polish curbs on media in tussle over U.S.-owned broadcaster

Published 07/12/2021, 05:48 AM
Updated 07/12/2021, 05:51 AM
© Reuters.

BRUSSELS (Reuters) - The top EU rights official expressed concern on Monday over curbs on media freedom in Poland where the ruling nationalists threaten not to renew the broadcasting licence of a critical TV news channel owned by the U.S. giant Discovery (NASDAQ:DISCA) Inc.

The case has added to growing worries over backsliding on democratic principles in Poland, as well as leading to a standoff between Washington and its staunch European ally.

The TV regulator told Reuters the broadcaster, TVN24, was in violation of Poland's cap on foreign ownership of media, and that the body was split on whether to renew the licence after the current one expires on Sept. 26.

The ruling Law and Justice (PiS) party submitted draft legal amendments that might challenge Discovery to divest most of its Polish business - estimated to be worth more than $1 billion - to continue broadcasting in the country of 38 million people.

"The new draft Polish law on broadcasting concessions is yet another worrying signal for media freedom and pluralism in the country," European Union Commissioner for Values and Transparency Vera Jourova said on Twitter.

"We follow closely the situation related to TVN24 whose licence has not been renewed yet."

The increasingly authoritarian PiS has long argued that foreign-owned media outlets distort public debate and do not serve Polish interests.

Poland recently used its state-run refiner, PKN Orlen, to buy out a newspaper publisher from Germanowners, giving Warsaw more influence over 20 local dailies, thewebsites of which get nearly 17 million visitors a day.

PiS lawmaker Marek Suski was quoted last Saturday as saying the Polish government was moving to increase its influence over TVN, which is the parent company of TVN24 and has more than a dozen channels in Poland, as well as a video on demand platform.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.