SEBI to have new guidelines for media industry

SEBISecurities and Exchange Board of India (SEBI) has said that it is going to have separate guidelines for media houses. This is being done so that it is able to have a watch and also control the ones that get equities in companies in lieu of giving them advertising space in their publications or channels.

Such treaties are private in nature and is looked as a conflict of interest.

SEBI has also got an affirmative nod from the Press Council of India (PCI) and has said that from now on it is mandatory for the media houses to disclose details of any such treaty that takes place. The disclosures will also include any kind of percentage sale made for the media group or for the editorial team.

The PCI has also accepted the suggestions made by SEBI.

SEBI has also said that the management of such companies that enter into such treaty need to make disclosure to SEBI. Even if a board of director is also involved in such a deal then that too should be told to the market watchdog.