MMTC Commends FCC Commissioner Ajit Pai On His Support For Access To Capital

by mmtcbbsj on September 19, 2012

For Immediate ReleaseWASHINGTON, DC, 9/19/2012 – The Minority Media and Telecommunications Council (MMTC) commends and supports FCC Commissioner Ajit Pai for his endorsement of foreign ownership reform – a leading step that would help minority broadcasters secure access to capital and to new markets. Commissioner Pai announced his support today at the National Association of Broadcasters’ Radio Show.

For nine years, MMTC and other organizations have been vocal about the antiquated nature of the FCC’s foreign ownership policies, which have remained essentially unchanged since they were originally written in 1912. Relaxation of the rules would provide new sources of capital for all broadcasters and, especially, minority broadcasters to grow their operations in this country. Further, due to international reciprocity, foreign ownership reform would open many overseas markets for American broadcasters who specialize in serving multiethnic and multilingual populations. The proposal has been endorsed by an unprecedented coalition of 50 national organizations – virtually all of the civil rights, media, professional, and trade organizations – in joint comments filed in the FCC’s media ownership proceeding this April.

MMTC is very appreciative of Commissioner Pai for standing up to ensure that all Americans have an opportunity to participate in the nation’s most influential industry.

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