Globo loses control over Netflix
Iñaki Ferreras ©RapidTVNews | 01-02-2012
According to new Brazilian pay-TV national law decreed by national telecommunications regulatory association ANATEL, the broadcaster must give up its corporate control over Net Serviços, which will be given to Embratel meaning Globo will from now on own 33.56% of its original shares.
On 26 January, ANATEL's board of directors unanimously approved TV Globo's loss of corporate control over Net Serviços, and gave the companies a 13 June deadline to ask the board for permission to carry out a corporate restructuring of the broadcaster and have it ‘s worth evaluated.
Control will be given to Embratel (managed by Carlos Slim's Telmex). This way, Globo TV has until September to give up its power over certain issues in regard to telecommunication service distribution (an activity supervised by the SeAc -Serviço de Accesso Condicionado). This is due to what pay-TV law 12.485 states: as of September 12th, broadcasters won't be entitled to participate or have any control over telecommunication companies.
Following the restructure, Globo will own 51% of Net's original shares (10% directly and 45.5% through GB Participaçoes) in addition to owning 12.13% of the pay-TV operator's total income. This restructure entails changes in Net's administrative board (eleven members): Globopar will have two members instead of six, and Embrapar (from Embratel) will have nine instead of five, according to 'TTV Media News'.
Yet, as stated in Brazilian website Tela Viva, ANATEL's decision also allows Globo -and other communication companies- to still have power over the pay-TV operator's programming decisions.
