FCC Media Bureau OKs iHeart Foreign-Ownership Request
The FCC Media Bureau granted iHeartMedia’s request for permission to be up to 14.99% foreign-owned, said a declaratory ruling Wednesday in docket 21-141. The Committee for the Assessment of Foreign Participation in the U.S. Telecom Services Sector gave iHeart’s request…
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the nod in October. The radio broadcaster’s ownership request was triggered by the discovery that Bahamas and U.K.-based investor Global Media & Entertainment Investment had increased its stake. GMEI asked the FCC to allow it to own an even larger share of iHeart over iHeart’s objections but withdrew that request in November (see 2111040057). That left iHeart’s request unopposed, the Media Bureau said. The approval is subject to conditions requested by the foreign-ownership committee that are standard for broadcasters requesting such approvals, including a requirement to notify DOJ about collection of personal data.