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.”