FCC Proposes To Streamline Foreign Ownership

The FCC has unanimously voted to propose streamlining the FCC's foreign ownership rules for broadcasters looking to exceed the current 25% stake that triggers FCC vetting.

Broadcasting&Cable reports the proposal essentially extends the streamlining applied to common carriers to TV and radio stations.

The item codifies that broadcasters can request that a controlling parent company have up to 100% foreign ownership of a broadcast property subject to the FCC's public interest review, as well as the "team telecom" review, an interagency review team vetting foreign ownership deals for national security issues.

The item also allows a non-controlling foreign ownership stake be able to be raised to 49.99% without having to petition the FCC.

It also does not require FCC approval of noncontrolling foreign interests of 5% or less, or 20% in certain circumstances. There were complaints about the difficulty of tracking down and identifying all shareholders to make that determination.