Broadcasters Ask FCC For Flexibility On Foreign Ownership Cap
September 6, 2012 at 4:42 AM (PT)
A group of U.S. broadcast television and radio groups has requested the FCC to clarify that it will examine the issue of foreign ownership of American broadcast groups on a case-by-case basis.
BROADCASTING AND CABLE reports that the "Coalition for Broadcast Investment," including CLEAR CHANNEL, CBS, HEARST, SINCLAIR, and others sent a letter to the Commission last FRIDAY asking the FCC to look at group owners exceeding the de facto 25% foreign ownership cap on a case-by-case basis in light of the lack of a similar cap for its digital competition. The group said that flexibility on the point would give broadcasters "the opportunity to gain access to significant new or additional sources of capital."
"Absent a clear statement from the Commission," the group said, "the marketplace will continue to assume that proposals for above-benchmark foreign investment in broadcasters will not even be considered regardless of the facts and circumstances presented or the merits of a particular proposal."