FCC Chair Clyburn Proposes Reviewing Foreign Ownership Of Broadcast Stations On Case-By-Case Basis
October 24, 2013 at 2:56 PM (PT)
Acting FCC Chairwoman MIGNON CLYBURN has circulated a ruling that would liberalize the foreign ownership rules for broadcast ownership by treating the issue on a case-by-case basis rather than an across-the-board hard cap of 25% foreign ownership, which is presently the case.
BROADCASTING AND CABLE reports that CLYBURN, after the NOVEMBER public meeting agenda was released with a foreign ownership item listed, said, "Today, I circulated a declaratory ruling that clears the way for increased access to capital and potential new investors for the broadcast sector. Approval of this item will clarify the Commission's intention to review, on a case-by-case basis, proposed transactions that would exceed the 25 percent benchmark that restricts foreign ownership in companies holding broadcast licenses. I look forward to working with my colleagues toward a final Commission vote next month."
NAB Pres./CEO GORDON SMITH responded, "NAB applauds Acting FCC Chairwoman CLYBURN for proposing that the Commission should consider foreign investment in U.S. broadcast properties the same way it considers such investments in other telecommunications properties. This is fundamentally fair and will serve the public interest. Permitting new potential sources of capital for American radio and TV stations will strengthen our ability to continue providing compelling news, entertainment and sports programming and to remain competitive in a multi-channel digital world."