Tag Archives: Transactions

FCC Grants First Petition for Declaratory Ruling Allowing 100% Foreign Ownership of Broadcast Station Licensees

Posted in Broadcast Regulation, Foreign Ownership, Transactions
The Media Bureau of the Federal Communications Commission (FCC) has released the first-ever decision permitting foreign citizens to own 100% of broadcast station licensees. In the declaratory ruling, the FCC authorized two Australian citizens each to own 50% of Frontier Media, LLC, the parent company of broadcast licensees owning seven AM radio stations, eight FM radio… Continue Reading

The Importance of Preparing the First Draft

Posted in Corporate/Business, Transactions
One of the most significant points in a transaction may be one of the most overlooked – the question of who will prepare the first draft of the underlying agreement.  It is generally always a good strategic decision to prepare the first draft of a purchase agreement, regardless of whether you are the buyer or… Continue Reading

FCC Grants Pandora Relief from the Communications Act’s 25% Foreign Ownership Limit, Signals Intent to Consider Revising Broadcast Foreign Ownership Compliance Mechanisms in the Future and Provides Limited Guidance Regarding Compliance in the Meantime

Posted in Broadcast Regulation, Foreign Ownership, Transactions
As we predicted last week, the Federal Communications Commission (FCC or Commission) has acted on the request by Internet streaming music provider Pandora for permission to exceed the 25% benchmark for foreign investment in broadcast licensee parent companies imposed by Section 310(b)(4) of the Communications Act. In the Pandora Ruling, the FCC authorized foreign investors… Continue Reading