Russian President Vladimir Putin has signed into law the bill limiting the share of foreign stockholders in Russian media outlets to 20 percent, says a report posted on the official legal data portal.
The bill was passed by the State Duma on September 26 and approved by the Federation Council on October 1.
The previous edition of the Media Law limited the share of foreign stockholders in the Russian television and radio to 50 percent and the restrictions did not apply to the printed media.
All media assets, including printed and online editions, but media projects which do not hold mass media licenses will fall under the latest adjustments. The law will not apply to media structures created on the basis of international treaties.
The restrictions will take effect on January 1, 2016. The owners of media outlets will have time until February 1, 2017, to reconcile their corporate structure with the law and the new documents regarding owners and founders shall be submitted to the Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications (Roskomnadzor) no later than February 15, 2017.
All rights reserved by Rossiyskaya Gazeta.