The house interior committee discussed on Thursday a draft bill on transparency in the ownership of media channels, submitted by the head of the committee Diko MP, Panicos Leonidou.
Also participating in the committee session, the Radio and Television Authority said that they have positive outlook on this bill, and that they support the effort to amend the legislation regarding the ownership status of the media.
The authority also said that following recommendations communicated by the EU Commission last September, regarding media freedom in the member states, European regulations regarding financial transparency and ownership of media groups is expected to be promoted in the future.
Following the committee session, Leonidou said: “The goal of seeking the amendment is to create complete transparency, which means that we all know who the real owners are.”
He added that this needs to appear in the public documents and media through the processes the committee is trying to put in place.
According to Leonidou all the shareholders should be made public, when asked about what percentage would be the minimum required to be presented as a shareholder.
He added that limitations should also be placed on third country parties or individuals, wishing to invest in Cypriot media.
Two weeks have been given by the committee for the radio and television, the government, and other stakeholders to revise the text of the draft bill, which could be voted on by parliament before the end of November.