ARGENTINA:1ST UPDATE: JP Morgan Yells SELL After President Cristina Seeks Newsprint Control.

NEW LINK/ BLOOMBERG/ 26 AUG/
   Wall Street is weighing in on President Cristina's attempt to takeover a private property newsprint mill. JP Morgan now advises its client to SELL Argentina bonds after their risk increased!  Two years of feuding between President Cristina Kirchner and the two leading newspapers, Grupo Clarin and La Nacion, over the legality of the acquisition of a newsprint firm three decades ago, is headed to court. Kirchner alleges that three newspapers conspired with the ruling dictators to control newsprint and drive rivals out of business.  "Papel Prensa is the only company that produces newsprint in this country,and it's a vertically integrated monopoly. It determines who it sells to, how much it sells and at what price. And so yes, whoever controls it controls the written word in the Republic of Argentina," claims Kirchner.Human rights groups claim La Nación and Clarin were mostly silent about "dirty war" crimes committed against leftists and other opponents of the 1976-83 dictatorship.

ARGENTINA: President Cristina Shuts Down Opposition Internet Service; 1 Million Subscribers Set Loose.

M.PRESS/       Claiming a recent merger with Cablevision was illegal, the government told the internet service provided by Grupo Clarín's Fibertel unit, to cease ALL service in 90 days. President Cristina Kirchner and her husband have long argued that Grupo Clarin is biased against them. With about 1 million subscribers, almost 63% of Grupo Clarin’s 1.87 billion pesos ($470 million usd) sales in Q2 came from just its cable and internet services.

ARGENTINA: Cristina's War With Clarin Media Group Gets Personal.

REUTERS/     Some officials claim the owner of the $900 million Grupo Clarin media holdings, Ernestina Herrera de Noble, 84, may have adopted two babies stolen from murdered political prisoners during the 1976-1983 military dictatorship. The adopted children believe President Cristina Fernandez is using them as pawns in her conflict with their mother's company. "We feel scared, anguished, insecure, persecuted," said Felipe Noble Herrera. The Noble Herrera children don't believe they are children of disappeared political prisoners, but they have resisted turning over DNA samples. However, the charges are turning off investors. "It doesn't inspire much confidence, it adds to Argentina's huge credibility crisis," said  author Jorge Asis.

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.