MercoPress. South Atlantic News Agency

Brazil planning to privatize public TV and radio network

EBC was created in 2008 and controls two TV channels, radio stations and produces government-sponsored radio and TV programs

Brazil will add public TV and radio network Empresa Brasil de Comunicação to government-owned companies to be privatized, two sources with knowledge of the matter said on Thursday.

EBC, as the company is known, is expected to be included this year in the list of companies the Brazilian government expects to privatize. Earlier this month, Brazil added nine companies to the list, including the one that manages the country’s postal service.

EBC was created in 2008 and controls two TV channels, radio stations and produces government-sponsored radio and TV programs. The company earned profits of 20 million reais (US$ 4.85 million) in 2018.

The privatization of the company would require congressional approval.