 The leading local private news agencies, "Noticias Argentinas" and "Diarios y Noticias", publicly asked for the closing of Télam in 1984, and in 1992, President Carlos Menem ordered the company be put into receivership, to be liquidated in two years.He rescinded the order in 1996 and replaced it with a new decree advanced by the Economy Minister, Domingo Cavallo, which left Télam without one of its main sources of income by dismantling the official government advertisement monopoly.Télam continued nonetheless to function as an advertising agency, though it was Menem's government intention to remove that function completely.