FCC to Speed Review of Overseas Financed Deals
The FCC voted to propose a 90-day shot clock on foreign media ownership reviews taken in concert with another government agency, like NTIA. Currently, as the FCC reviews deals involving overseas financing, several months of delays are typical.
The commission routinely refers some applications with reportable foreign ownership to the Executive Branch to coordinate expertise on national security, law enforcement, foreign policy and trade policy. The amount of assignment and transfer applications with components of foreign ownership has increased, and broadcasters and others asked the agency to streamline the review process.
What the commission has proposed would also give the agency a greater hand in screening applications of deals involving foreign ownership before passing them onto the Executive Branch.