Source: AP / yahoo news

BUENOS AIRES, Argentina – Argentina's Senate overwhelmingly approved a law that will transform the nation's media landscape on Saturday, and President Cristina Fernandez quickly signed it into law.

Senators voted by a surprisingly high 44-24 margin for the law, celebrating the end of dictatorship-era rules that enabled a few companies to dominate Argentine media. Opponents say it instead gives the government too much power and will curtail freedom of speech.

The new law preserves two-thirds of the radio and TV spectrum for noncommercial stations, and requires channels to use more Argentine content. It also forces Grupo Clarin, the country's leading media company, to sell off many of its properties.
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Most affected is Grupo Clarin, one of Latin America's leading media companies. Within one year, it must sell off radio stations, television channels and part of its dominant cable TV network to comply with new ownership limits.

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