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The existing law does not limit foreign ownership in printed and network editions, and a 50% threshold is stipulated for television and radio assets.
If approved, the bill will come into force on January 1, 2016. Under the document, mass media owners must draw all its corporate activities in compliance with the law by February 1, 2017, and new documents on owners and founders must be filed to the communications watchdog by February 15, 2017.In case of violations, the Federal Service for Supervision of Communications, Information Technology, and Mass Media will go to court to make the mass media suspend operations.
The document says that the limit on foreign interest in mass media is imposed if nothing else is stipulated by an international agreement concluded by the country.
To become law, the bill must be further signed by the president.