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Owners of Mai Life Magazine contemplate future

Owners of Mai Life Magazine contemplate future

By fijivillage.com
Wednesday 30/06/2010

The owners of Mai Life Magazine are now contemplating the future of their investment as the restrictions on cross media ownership in the new Media Industry Development Decree will have serious implications on the monthly magazine.
 
Under the Media Decree, Cross Media Ownership is where a person of a certain medium is limited in the amount of shares they can hold in other mediums or of the same medium.
 
This applies to the ownership of Mai Life Magazine which is owned and operated by Richard Boardbridge and his wife Judith Ragg as Broadbridge is also the founder and the director of MaiTv.
 
Section 39 sub section 4 of the decree states that no person may act as a director in more than one media organisation and they have been given 12 months to comply with the cross ownership requirements in the Media Decree.
 
Speaking to Fijivillage news, Richard Broadbridge said they have to study the decree before deciding their next step.

However he said it would be a shame if MaiLife magazine is forced to close down.
 


Story by: Roneel Lal

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