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New Media Law Proposal

The state media committee announced their new proposal on media ownership yesterday. According to the proposal, no individual or company may own more then 25 percent in a media company which has leading share in the market.

This law would affect media companies such as 365 (which owns Fréttabladid, DV, Stöd 2 and a host of radio stations), Morgunbladid, and TV station Skjár Einn. Minister of Education Thorgerdur Katrín Gunnarsdóttir said that the proposal was a “historic political compromise which will generate healthy competition and variety on the Icelandic media market.”

Gunnar Smári Egilsson, director of 365 was not very happy about the proposal, which he says will touch his company particularly. ” I don’t believe that these proposals will make it to becoming laws. They lack intelligence, and there’s lack of a need for laws like this.”

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