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Thursday, 26 May 2016

House Media Committee to recommend easing restrictions on investment proposed by media bill

The House Media Committee plans to recommend amendments to the draft media bill that would ease restrictions on ownership and financing for media outlets, said committee member Osama Sharshar. The restrictions include limiting ownership and investment in media outlets to Egyptian nationals, capping ownership stakes for minority shareholders, and restricting the majority ownership by an individual investor or his immediate family to one weekly outlet, monthly outlet or website. Sharshar told Al Borsa that he favors keeping the minimum capital requirement for establishing a website at EGP 500k. He added that the full body of the House will discuss on the bill in June.

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