President issued a decree on abolishing Azerbaijan State Television and Radio Company

According to the information given to APA from the press service of President's Office, under the decree, Azerbaijan State Television and Radio Company has been abolished.

"Azerbaijan Television and Radio Programmes" Closed Stock Company will be established the stocks of which belong to the state on the basis of it at initial stage. Later on, 49% of its stocks might be on sale according to the legislation rules on condition that, 51% of it remains in the state property for the purpose of improving financial condition of "Azerbaijan Television and Radio Programmes" Closed Stock Company.

The President gave instructions to the Cabinet to solve the matters in connection with the decree.