Ecuador Inks Deal With Telesur Network

Associated Press

Ecuador's leftist government signed an agreement Thursday with Venezuelan television network Telesur, acquiring a 5-percent share.

The Caracas-based station, which is supported by the government of Venezuelan President Hugo Chavez, a top foe of Washington, has similar agreements with other allies in the region, Argentina, Uruguay, Cuba and Bolivia and Nicaragua.

In a statement, Telesur said the deal, which will allow the station to broadcast in Ecuador, will confront "the media monopoly of the world's big news companies."

Chavez has touted the station as an alternative to what he calls the Washington-friendly coverage of other large media outlets.

Source: Forbes Magazine