Businessmen called before Colombian congress
BOGOTA — Two months after launching Colombia’s first private TV channels, the networks’ backers have been called to justify their advertising policies before a government committee.
Billionaire businessmen Julio Mario Santo Domingo and Carlos Ardila Lulle, owners of the RCN and Caracol channels, respectively, will testify before the House of Representatives on Sept 30.
The two men, who control Colombia’s most powerful business groups, had pledged to stop their congloms from advertising on state-owned channels and to push their products exclusively on the two networks.
The two congloms are estimated to generate around 35% of Colombia’s TV advertising revenue.
State-owned Canal A hit back with an ultimatum to advertising agencies: Unless they dedicate 45% of their budgets to pubcasters they will be barred completely.