NAMB Lobbies For More Foreign Media Investment
April 17, 2013 at 2:20 PM (PT)
The NATIONAL ASSOCIATION OF MEDIA BROKERS (NAMB), a group of professionals who represent buyers and sellers of radio and television stations and related businesses, has filed comments with the FCC supporting the elimination of the current rule limiting foreign ownership of terrestrial radio and television stations to not more than 25% of their equity interest.
"While the values of broadcast stations have moderated and increasingly more and more persons and companies wish to grow their companies or make first time acquisitions, unfortunately the supply of capital is not enough to satisfy the demand,"NAMB Pres. and Dir./Media Services Group JOSEPH B. "JODY" MCCOY III said. "Our membership believes it’s time to invite foreign capital to the table, just as it is invited in most every other medium."