Four months ago, an attorney representing Spanish Broadcasting System (SBS) notified Media Bureau Chief Michelle Carey that it is out of compliance with foreign ownership restrictions of Section 310(b)(4) of the Communications Act of 1934.
Since then, SBS has been providing the Bureau with a status report on the issue, with the latest one due March 26. An amended Petition for Declaratory Ruling (PDR) is also on the way from SBS, and the company wants affirmation from the Bureau that remedial actions taken to become compliant are sufficient.
Dissident shareholders want their say on the matter — and they’re going to get their chance.
