The National Communications Commission (NCC) yesterday passed an amendment to the Satellite Broadcasting Act (衛星廣播電視法) allowing the government, political parties and the military to indirectly hold up to 10 percent of shares in satellite broadcasting companies.
The commission, however, still banned direct investment in the media from any of the three stated parties.
NCC spokesperson Chen Jeng-chang (陳正倉) said the Executive Yuan is scheduled to review the proposed amendment on Tuesday before it is sent to the legislature for deliberation.
Similar regulations in the Broadcasting and Television Act (廣播電視法) and the Cable Television Act (有線廣播電視法) will also be amended to be consistent with those in the Satellite Broadcasting Act, Chen said.
Once the amendment is passed by the legislature, Chunghwa Telecom will be able to branch out into satellite channel services through indirect investment, he said.
LIMITATIONS
Prior to the amendment, Chunghwa Telecom was forced to forgo its shares in Elta TV because one-third of the telecom carrier’s shares are owned by the Ministry of Transportation and Communications.
The shareholding structure of Taiwan Mobile was also under scrutiny because one of its major investors is Taipei Fubon Bank, which is 15 percent owned by the Taipei City Government through a merger between city-owned Taipei Bank and Fubon Bank in 2005.
CONTROLLING THE MEDIA
Chen said the commission thinks it was appropriate to address the issue in a progressive manner, and that it should focus on the actual action of controlling the media rather than limiting the sources of funding.
Aside from completely banning direct investment from the government, political parties or the military, the amendment also bans the three stated parties from being founders, board directors, overseers or managers in satellite broadcasting firms.
The amendment also forbids the three entities from owning indirect investment to the extent that they are able to control the management and finances of satellite broadcasting firms.
The amendment also defines “controlling” satellite broadcasting companies as indirectly holding more than 10 percent of the shares in the firm.
Those who may not “control” the firms include foundations established by the government or political parties, as well as endowments or representatives commissioned by them.
State-run corporations acting as founders, board directors, overseers or managers of a satellite broadcasting company would also be considered “control” by the government.
The amendment will enable the NCC to punish investors from the government, political parties and the military, not the satellite broadcasting firms that receive the investment.
The NCC said it set the 10 percent threshold by consulting the Securities and Exchange Act (證券交易法), which requires those holding more than 10 percent of shares to report to administrative authorities.
The NCC also checked the Public Information Web site and found that board directors or those holding management positions in a firm generally held about 10 percent of the total shares.
The NCC commissioners then ruled that having at least 10 percent of shares is adequate for a person to control a satellite broadcasting firm.
However, Andy Shieh (謝煥乾), deputy director of the NCC’s legal department, said: “That does not mean those who only have 3 percent or 5 percent of indirect investment will not have any problem,” adding that they may still violate the regulations if there is evidence showing there is actual government or political party control.
ADDITIONAL REPORTING BY RICH CHANG
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