Order on Circulation at FCC Would Let Pandora Proceed With Station Buy
The FCC is considering a draft order that would let Pandora own a broadcast station as long as the company is less than 49 percent foreign owned, said an agency official. Pandora asked the commission to sign off on its…
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plan to buy KXMZ (FM) Box Elder, South Dakota (see 1411260042), even if it were 100 percent foreign owned, because the company has been unable to verify how foreign owned it is, said Garvey Schubert attorney Melody Virtue, who represents Pandora. “Most publicly traded companies are widely held.” She said the 49 percent threshold reportedly in the draft order would let Pandora proceed with the transaction. The order also includes a requirement that Pandora monitor its ownership going forward, said an FCC official. Pandora and FCC staff have been in contact over how the order would work, and the monitoring conditions are expected be acceptable to Pandora if the order is approved by the full commission, Virtue said. A Media Bureau spokeswoman had no comment.