FCC May Allow Greater Foreign Ownership of TV Stations

FCC May Allow Greater Foreign Ownership

Next month, the FCC will consider whether to allow foreign ownership stakes in TV stations that are larger than 25%, although such holdings will still be considered on a case-by-case basis.

Broadcasters are praising the potential move, which the commission will consider at its Nov. 14 meeting, as necessary to open up new capital for stations.

FCC Acting Chairwoman Mignon Clyburn said that such a change would clear the way for “increased access to capital and potential new investors for the broadcast sector.” There is now a 25% cap on foreign ownership, but the proposal would give the commission more flexibility to review each transaction that exceed that limit.

Senate Majority Leader Harry Reid (D-Nevada) and Sen. Chuck Schumer (D-New York) have urged the FCC to make such a rule change, but subject to a national security review. In April, Sharon Weston Broome, a Louisiana state senator who is national president of the National Organization of Black Elected Legislative Women, also urged the FCC to relax the rules, arguing that “foreign broadcast investment is key for industry growth and for the sustainability of minority ownership.”

Gordon Smith, the president and CEO of the National Assn. of Broadcasters, said that if the FCC adopts the proposal, it would be treating foreign investment in broadcast properties the same way it does other telecommunications businesses.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 1

Leave a Reply

1 Comment

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  1. Screw the FCC says:

    Now China can own TV, and Radio stations! They already own MOVIE cinema chains and Smithfield that makes Ham products! Aren’t there LAWS on the books to prevent Foreign Ownership of US Companies? This is selling out the American people! Now China can push their Globalist Communist Agenda on local TV Affiliates! How is this a WIN for the American people? We already have forced Illegal immigration. A Nation is it’s Borders, Language and Culture! I don’t think Americans need to learn Mandarin Chinese yet. But if they Bomb the hell out of us because of the Debt Obama has run up. Who’s fault is it? Not the American people who have said NO to illegal Immigration, and NO to the Bank Bailout TAX RAPE!

More TV News from Variety