FCC looking at foreign investment in broadcast
The Coalition for Broadcast Investment seeks to increase the amount of financing available and believes investment can be attracted if the FCC allows foreign entities to own more than the current limit of 25% in a broadcast licensee. The FCC is now accepting comment on the matter.
“Specifically,” noted the FCC, “CBI asks the Commission to clarify that it will conduct a substantive, facts and circumstances evaluation of proposals for foreign investment in excess of 25 percent in the parent company of a broadcast licensee, consistent with and in furtherance of its authority under 47 U.S.C. § 310(b)(4).”
The issue is being handled under the permit-but-disclose rules for the purpose of handling ex parte presentations.
Comments are due 4/15/13, and reply comments are due 4/30/13.
At least one comment is in already, that of Commissioner Ajit Pai, who commented on the opening of the comment window. He said, “I am pleased that the Media Bureau is seeking comment on the Coalition for Broadcast Investment’s request that the Commission modernize its approach to foreign investment in broadcast stations. As I pointed out last September, our current policy on foreign investment as applied to the broadcast industry is anachronistic, illogical, and bad for minority ownership. I thank the Minority Media and Telecommunications Council for its leadership on this issue and hope that the Commission will take swift action following the close of the comment cycle.”
Filed Under Broadcast News Washington Beat
Tags: FCC
Chris Stevens Says:
February 26, 2013 at 9:22 pm
This is merely a backdoor effort to increase consolidation. Commissioner Pai is bought and paid for by interests other than the public interest. His lip service to “minority” broadcasters is just that. Does he (or anyone who supports this) honestly believe there is a great well of capital outside of the US waiting to finance “minority” broadcasters? The money is heading straight for Clear Channel, Cumulus, and the other existing top names and connected pals.
Pai’s aggressive language and posturing make him ideal for the corporate world, but a terrible person to put in a governing or public interest position. Can’t wait to see him OUT the door.