Argentine Senate Approves Media Bill; Clarin Shares Plummet.

BLOOMBERG/
Argentina’s Senate approved a bill that limits television and radio ownership and will force Grupo Clarin, the country’s biggest media company, to sell off assets.
The Senate voted 44-24 for the law. President Christina Fernandez de Kirchner said it would “democratize” the airwaves. The law limits ownership of cable and broadcast operations in a single market. Clarin holds 73 percent of Argentina’s radio, television and cable licenses.