OBS_VALUE: Only Peruvians or corporations incorporated and domiciled in Peru may hold an authorizations and licenses to broadcast . Before 16 December 2007 the participation of foreigners in these corporations was limited to a maximum of 40%. However after this date this provision was declared unconstitutional and instead, a reciprocity principle applies. Moreover, corporations with foreign capital may not hold authorizations to broadcast in the border zones of their country of origin or that of their shareholders, unless they hold 2 or more authorizations in the same frequency band. 