Lawmakers on Saturday approved a bill to regulate the awarding of TV licences to broadcasters late on Saturday. The move is part of the Radical Left Coalition (SYRIZA) government’s efforts to regulate a sector that is plagued by debt and corruption. The new law means that television stations would have to bid for 10-year licenses in state tenders. “This law is part of a wider plan to change things. The political system must change, the banking system an the business model must change,” said Deputy Prime Minister Giannis Dragassakis, addressing MPs. Dragassakis labeled the Greek media a “vampire business” living on unproductive loans.

The changes mean that companies bidding for national broadcast licenses must have a minimum share capital of 2.8 mln euros and employ at least 50-400 people.

The bill is part of the government’s pledge for reforms in exchange for it’s third bailout fund from international creditors that is worth 86 billion euros. One of the terms of the fund is for SYRIZA to fight corruption in the private and state sectors.

The private radio and TV sector emerged in Greece in the Eighties after decades of state media control. Now, the new laws mean that only the healthy private broadcasters would be eligible to get TV licenses, whereas the map of frequencies would be defined by the Minister for Media and Communications ie. Nikos Pappas. The starting bidding price would be set by a joint decree signed by the finance and media ministers.

Opposition parties, however, state that the government is trying to control the media rather than reform it. “You can’t fight corruption by bringing all of the power over TV licenses to the jurisdiction of one minister,” said centrist Potami (River) party leader Stavros Theodorakis.