WASHINGTON, D.C. (September 29, 2016): Today, the Federal Communications Commission (FCC) authorized the use of its common carrier application review procedures for its broadcast foreign ownership applications.
In 2013, after eight years of litigation led by MMTC, the Commission voted to relax its broadcast foreign ownership policies, but implementation has been difficult. Today’s vote greatly simplifies the foreign ownership application process and makes it affordable for small businesses to seek overseas sources of capital.
“This is welcome news for diverse owners in the United States and abroad, who – all things being equal – have more difficulty securing the capital needed to start or grow any business,” stated MMTC President and CEO Kim Keenan. “The Commission’s decision today – and specifically the efforts of Commissioner O’Rielly – will provide minority broadcasters with far greater opportunities to finance their stations. Ultimately, this outcome will directly increase the diverse content needed and demanded to serve millions of people from coast to coast.”
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The Multicultural Media, Telecom and Internet Council (MMTC) is a non-partisan, national nonprofit organization dedicated to promoting and preserving equal opportunity and civil rights in the mass media, telecom and broadband industries, and closing the digital divide. MMTC is generally recognized as the nation’s leading advocate for minority advancement in communications.