FCC Opens Door to Greater Foreign Investment in TV and Radio Broadcast Sectors
By SHERRESE M. SMITH & MATTHEW L. GIBSON
On November 14, 2013, the U.S. Federal Communications (FCC) adopted a Declaratory Ruling clarifying its policies related to foreign investment in radio and television broadcast companies. Specifically, the FCC has stated that it will consider, on a case-by-case basis, requests to permit foreign ownership in a broadcast company to exceed 25%. The broadcast industry immediately praised the FCC for bringing its broadcast foreign ownership policies in line with similar policies in the telecommunications sector, a move which the industry expects will enable broadcasters to seek out new sources of capital.