News Corp to buy SuomiTV?
The nationwide SuomiTV channel, which is owned by Family Channel, could end up in the ownership of the News Corporation. In November, the Finnish subsidiary of Family Channel applied for a preliminary ruling on a change in its majority holdings so it could be acquired by a company belonging to the US News Corporation.
The government has granted Family Channel the television operation licence despite the upcoming changes in company ownership, says the Ministry of Transport and Communications in a press release.
The licence system for commercial radio and television operations is based on the fact that licences granted by the Government may not be assigned to another party. According to the Act on Television and Radio Operations, a change in control may be approved if the conditions for granting a licence are met and operations continue in accordance with the licence terms.
Family Channel Oy is a Finnish joint stock company founded in 1998, and it was granted a licence from the Government for the SuomiTV channel in June 2009. SuomiTV and its parent company Family Channel are owned by the Canadian company Ontario Inc.
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