Argentine Supreme Court Backs Law Forcing Clarin Divestments

Argentina’s Supreme Court declared constitutional a media law that forces Grupo Clarin SA, the country’s biggest media holding company, to sell some assets after a four-year battle with the government.

The seven-member court voted to overturn an appeals court ruling that the 2009 law limiting media ownership breached the constitution. President Cristina Fernandez de Kirchner said the law seeks to democratize the media and avoid monopolies. In its 392-page ruling, the court said the government should compensate license owners for the loss of their rights.