PLEASE VERIFY AND DISTRIBUTE IF TRUEWell, this slipped by: @fcc on Friday approved 100 percent foreign ownership of U.S. broadcast properties, overturning long-standing 25 percent limit. Means China, Russia or another foreign entity could theoretically buy U.S. stations (h/t: Jeffrey Yorke): https://t.co/eMYt7veT36— Paul Farhi (@farhip) June 1, 2020
FCC Approves For the First Time 100% Foreign Ownership of US Broadcast Stations
By David Oxenford on February 24, 2017
Posted in AM Radio, FM Radio, Multiple Ownership Rules, Public Interest Obligations/Localism, Television
The FCC yesterday released its first decision approving 100% foreign ownership of a group of US broadcast stations. This comes after significant relaxation of the FCC’s interpretation of the foreign ownership limits which, less than 4 years ago, had been interpreted to effectively prohibit foreign ownership of more than 25% of a company controlling broadcast licensees (see our article here about the 2013 decision to relax the restrictive policy). In yesterday’s decision, the FCC approved the application of an LLC controlled 100% by a husband and wife, both Australian citizens, to acquire complete control over several companies that are the licensees of 7 AMs, 8 FMs, 13 FM translators, and 1 TV translator in Alaska and Texarkana, Arkansas and Texas.
Well, this slipped by: @fcc on Friday approved 100 percent foreign ownership of U.S. broadcast properties, overturning long-standing 25 percent limit. Means China, Russia or another foreign entity could theoretically buy U.S. stations (h/t: Jeffrey Yorke): https://t.co/eMYt7veT36—; Paul Farhi (@farhip) June 1, 2020
PLEASE VERIFY AND DISTRIBUTE IF TRUE
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What the heck? That’s crazy-course they already take orders from CCP.