The Prime Minister of Papua New Guinea said the government is still in the discussion stages relating to their aim to have PNG nationals owning shares in foreign media companies operating in PNG.
In an interview with PNG FM, PNG Prime Minister, Peter O’Neill confirmed that discussions are already underway with media companies based in Papua New Guinea.
Discussions at this stage include the possibility of foreign owned companies selling a certain amount of shares to locals however the amount is yet to be finalised.
The foreign media companies in PNG include EMTV which is owned by Fiji TV, the Post Courier newspaper which is 63 percent owned by News Corp, PNG FM which is owned by Communications Fiji Limited and The National which is owned by Malaysian conglomerate Rimbunan Hijau.
The PNG Prime Minister said any changes will affect companies currently operating in the country and any new acquisitions.
Although some Australian media outlets are saying that the law is already amended, the PNG government stresses that no changes have been made as yet.
Story by: Vijay Narayan
