NAB Tells FCC It Supports Lifting Foreign Ownership Caps
April 16, 2013 at 3:59 AM (PT)
The NAB has voiced its support for allowing more foreign investment in American broadcast licensees in comments filed with the FCC.
The organization said in the comments that it supports the COALITION FOR BROADCAST INVESTMENT's request for clarification of the foreign ownership rules and for the Commission to "clarify and affirm that it will substantively evaluate proposals for foreign investment in the parent companies of broadcast licensees that exceed Section 310(b)(4)’s benchmark to determine if those proposals serve the public interest."
"(G)ranting this request," wrote the NAB, "would help inject vital investment capital into the broadcast industry, thereby promoting a more competitive, diverse and innovative industry."
The NAB noted that the Commission already allows greater foreign investment in common carriers and that "Regulatory parity alone supports" the request, and that the need for capital to grow and expand broadcasting services mandates obtaining that money from sources outside the U.S., which it adds will also help to promote greater ownership diversity.