National Communications Agency Closes Proceedings

GRUPO CLARIN S.A.

National Communications Agency Closes Proceedings

On 7 March 2016, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that it had been served notice of Resolution No. 17 ENACOM/16, issued by the Argentine ENTE NACIONAL DE COMUNICACIONES (National Communications Agency or ENACOM) on 22 February 2016, whereby that agency decided that the proceedings under Files No. 3002 AFSCA/2013 and No. 1395 AFSCA/2012 corresponding to the Company and its subsidiaries Cablevisión S.A., Radio Mitre S.A. and Arte Radiotelevisivo Argentino S.A. are deemed concluded and shall be filed. The abovementioned proceedings related to the Company's and its subsidiaries' plan to conform to Audiovisual Communication Services Law No. 26,522.

Attached as Exhibit A is a free translation of the relevant sections of Resolution No. 17 ENACOM/16

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: [email protected] 

In London:

Alex Money

Jasford IR

Tel: +44 20 3289 5300

Email: [email protected] 

In New York:

Melanie Carpenter

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: [email protected]

Exhibit A

FREE TRANSLATION

"2016 - Year of the Bicentennial of the Declaration of Independence"

17

National Communications Agency

Buenos Aires, 1 FEB 2016

HAVING REVIEWED File No. 558/16 of the register of the NATIONAL COMMUNICATIONS AGENCY, and

WHEREAS:

With the issuance of Decree No. 267/15 [the Executive Branch] introduced a series of amendments to Law No. 26,522, with the purpose of avoiding the consolidation of the process of regression of the media and telecommunications industries in light of the speed and dynamism at which technological changes occur, and also promoted the review of regulatory policy.

Thus, in addition to including subscription broadcasting services by physical and/or radioelectric link as a service to be registered by TIC licensees-excluding them from the regulation of Law No. 26,522, [the Decree] introduced, among [the provisions] relevant to this [resolution], a series of amendments to Sections 25 (admissibility conditions for corporate entities); 41 (transfers of licenses and equity participations); 45 (multiple license regime); and 54 (opening of share capital).

[Recital 3 intentionally omitted]

In addition, Section 22 of Decree No. 267/15 repealed, among other provisions, Section 161 of Law No. 26,522, pursuant to which the holders of licenses for services and registries that did not meet the requirements of such law, or the companies that, at the time of the law's entry into force, held a greater number of licenses, or had a shareholder composition that was different from those permitted [by the law], had to conform to its provisions within a term of no more than one (1) year, as from the date that the enforcement authority established the transition mechanisms.

[Recital 5 - 7 intentionally omitted]

Under such circumstances, the verification of the adjustment of the current licenses to the provisions of Law No. 26,522, in its original language, by means of the application of the proceedings set forth under Section 161 of such law and its regulations lacks any legal grounds, given the repeal [of such Section] pursuant to Section 22 of Decree No. 267/15, and therefore the review of the proposals to [conform to Law No. 26,522] that are still pending resolution should be concluded.

[Recital 9 - 12 intentionally omitted]

Therefore,

THE PRESIDENT OF THE NATIONAL COMMUNICATIONS AGENCY

RESOLVES:

ARTICLE 1º.- We hereby acknowledge that all files and/or administrative actions that are pending resolution, which document requests made under the regime that was approved pursuant to Section 161 of Law No. 26,522 and its regulations, indicated under Annex A hereto, comply with the limits relating to multiplicity of licenses provided under Section 45 of Law No. 26,522, and must therefore be deemed concluded and filed.

ARTICLE 2º.- The legal relationships and subjective rights that arose under final and consented administrative acts that were issued pursuant to the laws cited in the preceding Article, will maintain their effectiveness, without prejudice to the petitions that may be filed under the regime approved by Decree No. 267/15.

ARTICLE 3º.- The petitioners in the proceedings set forth in Annex A hereto, may request the return of the original documents that they deem necessary for the processing of the transfers of licenses and shares of membership interests of licensee companies that may be made under the regime approved by Decree No. 267/15, prior to their filing.

ARTICLE 4º.- Resolutions No. 577-AFSCA/09; 1121-AFSCA/14; and 1105-AFSCA/15 and article 3º of Resolution No. 1358-AFSCA/14 are hereby rendered without effect.

ARTICLE 5º.- [Let this Resolution be] registered, communicated and filed.

ENACOM RESOLUTION Nº 17

/S/ Miguel Angel De Godoy

President

National Communications Agency

ANNEX A

CONCLUDED PROCESSES TO CONFORM [LICENSEES TO LAW NO. 26,522]

File No. 1397-AFSCA/2012 GRUPO MONETA

File No. 593-AFSCA/2012 JORGE RICARDO NEMESIO

File No. 1400-AFSCA/2012 RADIODIFUSORA DEL CENTRO (CADENA 3)

File No. 1399-AFSCA/2012 GRUPO PRISA

File No. 1393-AFSCA/2012 GRUPO TELEFE

File No. 3002-AFSCA/2013 GRUPO CLARIN S.A.

File No.1395-AFSCA/2012 GRUPO CLARIN S.A.

/S/ Miguel Angel De Godoy

President

National Communications Agency