Existing ownership rules cap foreign ownership in the controlling U.S. parents of a broadcast station at 25%. A licensee seeking foreign ownership above 25 percent undergoes an individual, case-by-case public interest review.The proposed rulemaking would modernize the filing and review procedures and adopt a standardized process for requests to exceed the 25% cap. It wouldn’t change the foreign ownership limits or the public interest standard of review. But it would allow the licensee to request that a proposed controlling foreign investor, once approved, be permitted to increase its ownership to 100% in the future without filing a new petition. And it would allow broadcasters to request that any non-controlling named foreign investor, once approved, be permitted to increase its interest in the U.S. parent up to 49.99% in the future without filing a new petition.
Source: FCC Opens Foreign Ownership Rulemaking. – Insideradio.com: Story