FCC Opens Proposal For Loosening Foreign Ownership Restrictions To Comment
February 26, 2013 at 10:20 AM (PT)
The FCC's Media Bureau has opened the COALITION FOR BROADCAST INVESTMENT's request for clarification and modernization of the Commission's foreign ownership policies and procedures for public comment. The CBI asked that the FCC "conduct a substantive, facts and circumstances evaluation of proposals for foreign investment in excess of 25 percent in the parent company of a broadcast licensee."
Comments will be due on APRIL 15th with replies due on APRIL 30th.
Commissioner AJIT PAI said, "I am pleased that the Media Bureau is seeking comment on the COALITION FOR BROADCAST INVESTMENT's request that the Commission modernize its approach to foreign investment in broadcast stations. As I pointed out last SEPTEMBER, our current policy on foreign investment as applied to the broadcast industry is anachronistic, illogical, and bad for minority ownership.
"I thank the MINORITY MEDIA AND TELECOMMUNICATIONS COUNCIL for its leadership on this issue and hope that the Commission will take swift action following the close of the comment cycle."