Piñera announced on February he had the intention to transfer 100% of his stake in Chilevisión to a non-for-profit organization called "Fundación Cultura y Sociedad" (formerly "Fundación Futuro"), of which he is owner. The foundation's board will include some of the station's current executives. Under that proposal, Piñera maintains the right to remove and replace the foundation's president at any given time. Cristián Patricio Larroulet Vignau, current Minister of the Secretariat of the Presidency of Chile, stated that Piñera was honoring his promise of removing himself from private corporations, as Chilevision will become the property of a non-profit organization. MP Cristián Monckeberg (RN), stated there is no law obligating Piñera to do otherwise and thus this decision is legally legitimate."". The option above finally did not take place, Piñera decided to sell the TV station, and after a failed attempt in May 2010 with the Linzor Capital investment fund, the President announced it sold Chilevisión to Time Warner, in late August 2010.