Media should disclose their vested interest in companies

The Securities and Exchange Board of India made mandatory for media companies to disclose their stake  where such exists, in companies they write about .The Private treaties involve deals where corporates pay media companies in shares for advertising plus other favourable coverage. There is obligation for the newspaper to let its readers know it has a vested interest in the coverage to these companies.From now on, such disclosures  would have to be made in any " news report/article-editorial in newspapers/television relating to the company in which the media group holds such stake.The SEBI worte to the press Council more than a year ago. The Press Council of India , has taken whole one year , after it received SEBI's suggestions to issue a press release on "Guidelines concerning mandatory disclosure by the media of its stake in corporate sector.The SEBI is not only protecting investors from being misled by the coverage.It has taken the cause of Media accountability a significant step forward.Media  groups must disclose, at their websites, the percentage of stake they hold in their private treaty  clients.The SEBI , efforts , if implemented sincerely, will be excellent for the health of India's burgeoning news media.initiative