Univision Seeks Permission to Be Up to 70 Percent Foreign-Owned
Univision petitioned the FCC to increase its previous declaratory ruling on the percentage of the company that’s allowed to be foreign-owned to allow for internal restructuring, said a Media Bureau public notice Tuesday. In a 2017 declaratory ruling, the agency…
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authorized Univision to be up to 49 percent foreign-owned. Under the terms of the planned restructuring, Mexico-based Univision subsidiary Notivision would acquire 21 percent of U.S.-based subsidiary Univision Radio, the PN said. Under the currently allowed level of foreign ownership, that transaction would subsequently limit available foreign investment in Univision to 28 percent. To create more room, Univision wants the FCC to increase its allowed amount of foreign ownership to 70 percent. “Univision does not seek specific approval for any previously unapproved foreign investors,” the PN said. It started docket 19-132 for the proceeding, saying ex parte procedures cover such a permit-but-disclose proceeding.