From Inside Radio...
In a unanimous vote this morning, the Federal Communications Commission approved raising foreign ownership limits on radio and television stations. On a case-by-case basis, it will now allow companies to exceed the previous 25% threshold. The commissioners agreed that the move will help small and minority-owned companies gain access to capital. With national security, localism, and media diversity issues at play, new chairman Tom Wheeler said “it will be far from a rubber stamp.”
Foreign investors have been clamoring to buy American media properties. This is going to open the floodgates. Whether that's a good or bad thing depends on your point of view, I suppose. Media giants who have been trying to get rid of the stuff they bought for way too much money at the height of the market are certainly smililng.
