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Grupo Clarin Submits Plan to Comply With Argentine Media Ruling

Grupo Clarin SA said it plans to divide its audiovisual assets into six units, enabling Argentina’s largest media group to comply with antitrust media legislation.

The Buenos Aires-based company will present its plan to the country’s media regulator today even though it will lodge an appeal with international courts over an Oct. 29 Supreme Court ruling that the 2009 law is constitutional, Clarin said on its website. Clarin shares fell 7.6 percent to 17 pesos at 1:05 p.m. local time.