Newsprint bill in Argentina clears Lower House, would allow government to increase ownership in newsprint producer Papel Prensa, which has newspapers Clarin and La Nacion as its largest stakeholders

LOS ANGELES , December 16, 2011 () – A bill in Argentina that would allow the government to hold a larger stake in privately held newsprint producer Papel Prensa SA has cleared the Lower House, reported the Buenos Aires Herald on Dec. 16.

The newsprint bill, which was sent to Argentina’s Congress by President Fernandez de Kirchner, would establish a public interest in the printing and distribution of newsprint.

The bill passed the Lower House with 134 voting in favor, 92 against and 13 abstaining, after six hours of debate, the Buenos Aires Herald reported.

It will now be sent to the Upper House’s Media and Freedom of Speech Committee for debate. The Kirchnerite Victory Front party is pushing for the bill to be put to a floor vote by the next session on Dec. 22.

The opposition party is most concerned about giving the government more control over Papel Prensa, which has as its largest stakeholders the newspapers Clarin and La Nacion, reported the Buenos Aires Herald.

Papel Prensa, which is located in San Pedro City, in Argentina’s Buenos Aires province, produces about 170,000 tonnes per year of newsprint and supplies about 130 customers throughout the country, according to its website.

The primary source of this article is the Buenos Aires Herald, Buenos Aires, Argentina, on Dec. 16, 2011.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.