( CNN ) -- A private Venezuelan television station openly critical of President Hugo Chavez said Friday it will pay a hefty fine after the country 's highest court ordered that its assets be seized . The supreme court 's announcement , which came down Thursday evening , ordered seizure of the broadcaster 's property and equipment for failure to pay a $ 2.2 million fine levied last year . Globovision is currently fighting the fine in court , and accused the high court of interfering with their appeal process . The station also questioned why the supreme court ordered seizures worth $ 5.7 million , more than double the value of the original fine . The high court 's `` grotesque and despotic '' decision forces the station to pay the original fine immediately , before its validity is decided in a lower court , Globovision said . In its statement , the court said the seizure amount was the calculation of twice the original fine , plus the costs of executing the action . Globovision is Venezuela 's last remaining television broadcaster that is openly critical of President Hugo Chavez . The seizure announcement comes days before the electoral campaign officially kicks off . The original fine stems from Globovision 's coverage of a standoff at the Rodeo II prison in June and July . The station violated a law that prohibits stirring anxiety in the public and instigating intolerance for political reasons , officials charged . These are violations under a media responsibility law passed in December . The stated goal of the law is to establish `` social responsibility '' in those who provide television , radio and Internet service . The law affects all text , images , sound or context sent or received in Venezuela . Globovision defended its coverage of the prison standoff , which started with a riot that killed at least 22 people and turned into a nearly monthlong standoff between prisoners and national guard troops . But not paying the fine immediately could risk the station being shuttered , Globovision said . `` Globovision is very clear about its responsibility to forge ahead , to stay open and to remain the principal space for criticism and free , independent news , '' the station said in a written statement . Chavez loyalist Diosdado Cabello , president of the country 's national assembly , said on his Twitter account that Globovision `` still believes it is above the law and the time to pay arrived today . '' Over the years , the government has launched various investigations into Globovision -- looking , for instance , at its reporting about an earthquake before an official report had been issued , and failing to pay about $ 2.3 million in taxes . Station officials have said the charges are politically motivated . In 2010 , the government secured a 25.8 % interest in the broadcaster when it took over two companies , one owning a 20 % stake in Globovision and the other , a 5.8 % stake .
Brazil 's supreme court ordered the seizure of Globovision 's assets . The private broadcaster must pay a fine to avoid the action . The station says the supreme court is proceeding with an appeal to the original fine . The station and Globovision have been at odds for years .