Chavez says Venezuela now owns almost half of opposition channel Globovisión

By Ingrid Bachmann

President Hugo Chavez announced that his government effectively owns more than a 45 percent stake in Globovisión, a station highly critical of his administration, and that in the next several days he would appoint a member to the channel’s board, Reuters and El Universal report.

According to Chavez, the government owns 25.8 percent from a bank it took over last month and an extra 20 percent from the death of another shareholder, Reuters explains. Globovisión president Guillermo Zuloaga called the statement “absurd,” saying the now state-run bank did not hold any shares in the company, the Miami Herald adds.

Note from the editor: This story was originally published by the Knight Center’s blog Journalism in the Americas, the predecessor of LatAm Journalism Review.