In new Chairman Tom Wheeler’s first open FCC meeting since his confirmation late last month, the commission today eased the rules on foreign ownership of broadcast stations. Dispensing with the old 25% cap, now overseas companies can invest more than that in American outlets. Of course, it isn’t an automatic process. In its vote Thursday, the commission said will assess on an individual basis each such investment. The change came as no real surprise: It was introduced in late October by then-Acting Chair Mignon Clyburn. Today, the change passed unanimously with all five commissioners voting for it. The new rule was widely supported by the likes of NAB to the Minority Media & Telecommunications Council, which had pushed for such easing.
FCC Relaxes Foreign Ownership Rules
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