Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
ATHENS, Greece (AP) — Authorities in Greece say popular private broadcaster Mega Television has dropped out of the bidding for a national television license, under an overhaul of broadcasting regulations ordered by the country's left-wing government.
The government's Information Ministry said late Tuesday that four bidders including Mega had been eliminated from the first round license auction, with seven remaining.
Once Greece's most popular private network, Mega has faced financial difficulties in recent months, falling behind on payroll and other payments — the latest casualty in the country's financial crisis that has hammered news media companies.
Despite fierce criticism from opposition parties, the government argues the overhaul is vital to stamp out alleged corrupt transactions involving media owners with stakes in public works contracts.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
