FCC Proposes Streamlined Ownership Procedures for Broadcasters

The Federal Communications Commission proposed to extend the same streamlined procedures and rules used to review ownership in common carriers licensees to broadcast licensees, with certain tailored modifications. Oct 22's proposals modernize the filing and review procedures for the current business environment, adopting a standardized process for broadcast licensees' requests to exceed the 25 percent statutory foreign ownership benchmark.

The proposals do not modify or change the statutory foreign ownership limits or the public interest standard of review. The proposed process changes could facilitate investment from new sources of capital at a time of growing need for investment in this important sector of our national's economy. The proposals will also provide the broadcast sector with greater transparency and predictability, and reduce regulatory burdens and costs.