{"id":158211,"date":"2025-07-25T16:55:51","date_gmt":"2025-07-25T16:55:51","guid":{"rendered":"https:\/\/teknomers.com\/en\/the-superintendency-of-societies-imposed-a-hefty-fine-on-the-company-that-operates-channel-1-what-was-the-reason\/"},"modified":"2025-07-25T16:55:52","modified_gmt":"2025-07-25T16:55:52","slug":"the-superintendency-of-societies-imposed-a-hefty-fine-on-the-company-that-operates-channel-1-what-was-the-reason","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/the-superintendency-of-societies-imposed-a-hefty-fine-on-the-company-that-operates-channel-1-what-was-the-reason\/","title":{"rendered":"The Superintendency of Societies imposed a hefty fine on the company that operates Channel 1: what was the reason?"},"content":{"rendered":"\n

Superintendence of Societies Imposes Fine on Phoenix Media SAS<\/h2>\n
\n <\/picture>
The Superintendence of Companies sanctioned Phoenix Media SAS with $40 million for omitting the timely registration of the control situation on Plural SAS Communications – Superintendence Credit of Companies<\/figcaption><\/div>\n

In a significant event within the Colombian media landscape, the \u00a0Superintendence of Societies\u00a0 has sanctioned \u00a0Phoenix Media SAS\u00a0 with a hefty fine of \u00a0forty million pesos\u00a0. This sanction comes as a result of the company’s failure to inform the regulatory body about its control situation over \u00a0Plural SAS Communications\u00a0, the entity operating \u00a0Channel 1\u00a0.<\/p>\n

This omission has serious implications for the transparency principle<\/b>, which is a crucial requirement in Colombia’s corporate regulation framework.<\/p>\n

Stay updated:<\/b> You can follow us on Facebook<\/b><\/i><\/a> and on our WhatsApp Channel<\/b><\/i><\/a>.<\/p>\n

The sanction stems from a critical issue: the \u00a0lack of timely registration\u00a0 regarding Phoenix Media’s oversight of Plural SAS Communications, which also involves another company, HMTV one SAS. The Superintendency determined that for an extended period, the identity of the actual parent company behind Channel 1 was obscured<\/b>, leading to violations of the regulatory framework intended to ensure business transparency.<\/p>\n

\n \"The\n <\/picture>
The lack of transparency in the Plural Control Structure SAS violated trust in the media sector in Colombia – credit @ssociedades\/x<\/figcaption><\/div>\n

The authority emphasized<\/b> that the obligation to declare these control links stems from the necessity of providing \u00a0relevant information\u00a0 to stakeholders such as investors, governmental authorities, and users. The absence of this data hindered external parties from understanding who actually controlled the \u00a0Channel 1\u00a0 media, which serves a significant role on a national scale.<\/p>\n

The Superintendent of Societies, \u00a0Billy Escobar P\u00e9rez\u00a0, expressed the need for proper dissemination of information within corporate groups and control situations, stating that these factors are fundamental for \u00a0corporate governance\u00a0 and for building \u00a0market confidence\u00a0.<\/p>\n

\u201cAdministrative investigations into the proper revelation of business groups and control situations are crucial for corporate governance<\/b> as they build trust in market interactions. Our office aims to promote ethical business practices and clear identification of controllers while implementing conflict resolution mechanisms to ensure the sustainability of businesses,\u201d stated Escobar.<\/p>\n

\n \"Phoenix's\n <\/picture>
The effective control of Phoenix Media SAS on Plural SAS Communications through HMTV one SAS was reported late, which motivated the sanction by the Superintendence of Companies – credit @ssociedades\/x x x<\/figcaption><\/div>\n

Escobar further highlighted that this sanctioning process illustrates the significance that the Superintendence attaches to clarity in commercial information and the identification of control chains in the business sector. This is especially vital in sectors like \u00a0Channel 1\u00a0, which serve the public interest.<\/p>\n

The delayed reporting of the control structure regarding Plural SAS Communications prompted the investigation and subsequent fine.<\/b> Although Phoenix Media accepted the charges during the process, the Superintendency emphasized that the disclosure was late, resulting in the imposed penalty.<\/p>\n

The entity reiterated that timely registration in the \u00a0Mercantile Registry\u00a0 of control relations managed by local chambers of commerce is essential to uphold transparency in the business sector.<\/p>\n

\u201cTimely registration of control situations in the Mercantile Registry is crucial, as it enables third parties to understand who truly exercises dominant influence over a business,\u201d<\/b> commented the Superintendency in its official statement.<\/p>\n

The case underscores the importance of adhering to corporate governance obligations, particularly in sensitive environments such as media operations. Regulatory authorities emphasize the necessity for companies to clearly and promptly disclose links and control structures, especially when significant business conglomerates are involved in delivering public interest content.<\/p>\n


\n
General News – 2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Superintendence of Societies Imposes Fine on Phoenix Media SAS The Superintendence of Companies sanctioned Phoenix Media SAS with $40 million for omitting the timely registration of the control situation on Plural SAS Communications – Superintendence Credit of Companies In a significant event within the Colombian media landscape, the \u00a0Superintendence of Societies\u00a0 has sanctioned \u00a0Phoenix Media […]<\/p>\n","protected":false},"author":1,"featured_media":158212,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[6769,541,3405,37228,3403,17905,5087,21096,39527],"class_list":["post-158211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mazagine","tag-channel","tag-company","tag-fine","tag-hefty","tag-imposed","tag-operates","tag-reason","tag-societies","tag-superintendency"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/158211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=158211"}],"version-history":[{"count":0,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/158211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/158212"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=158211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=158211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=158211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}