A group of broadcasters asked the FCC to clarify that...
A group of broadcasters asked the FCC to clarify that it would intend to exercise its “statutory discretion to consider, in any particular case, whether it would serve the public interest to authorize, condition or disallow proposed foreign investment in…
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excess of the 25 percent benchmark” for broadcast assets. The group, calling itself the Coalition for Broadcast Investment, asked the agency to clarify that it would “conduct substantive, facts and circumstances evaluations of proposals for foreign investment in excess of 25 percent of the parent company of a broadcast licensee,” a letter from the group said. “Taking this modest procedural step would place broadcasters on the same footing as every other industry participant and signal that the broadcast sector continues to be a vital and valued part of the 21st-century media and telecommunications ecosystem,” it said. “It would send a positive and powerful message to the industry, the capital markets, viewers, listeners and advertisers alike that in the appropriate circumstances, U.S. broadcasters may be afforded access to new sources of capital.” The coalition includes CBS, Disney, Univision, Sinclair, Ion, LIN TV, Hearst, Entravision, Clear Channel and others.