07. 12. 2004

MEDIA VALUATION

BELGRADE, December 7, 2004 – The federal cabinet is to launch an initiative for determining the rights of proprietors in the procedure for privatisation of state capital in media concerns. Under legislation regulating implementation of the Constitutional Charter, and on the proposal of the Information Directorate, the cabinet has adopted a draft agreement which would coordinate the operation and status of existing media. The agreement is to be signed by the governments of both member states and returned to the cabinet for ratification. The draft agreement will determine the status and ownership of these media companies and the procedure will be carried out under the laws of the member state on whose territory each company is headquartered. Revenue raised through the privatisation process will be divided on a ratio of 93.3 per cent to Serbia and 6.7 per cent to Montenegro.