FCC Reconsiders Diversity Order's Nonattributable Interest Ownership Filing Requirement
October 16, 2009 at 4:57 PM (PT)
The FCC has granted the NAB's petition for reconsideration of changes to the "323 Order" on commercial broadcast ownership reporting requirements only to the extent that it will open the requirement that licensees report certain nonattributable interests to further public comment and denied the NAB's petition on all other counts.
The order is intended to increase the accuracy and comprehensiveness of minority and female ownership data collection, and it expanded the filing requirement to interests that are not attributable because of the single majority shareholder exemption and the exemption for interests held in eligible entities that would be attributable but for the higher Equity/Debt Plus thresholds adopted in the order. The NAB had also asked for reconsideration of the requirement that sole proprietors file ownership reports biennially.
The Commission also ratified the Media Bureau's extension of the date for commercial licensees to file their initial biennial ownership reports on the new Form 323 to no earlier than 30 days after public notice by the Office of Management and Budget of the new form with data current as of NOVEMBER 1st, 2009. Beginning with the 2011 filing, the form must be filed no later than NOVEMBER 1st with data current as of OCTOBER 1st of the filing year.