Hacker News new | past | comments | ask | show | jobs | submit login
FCC approves 100% foreign ownership of U.S. broadcast properties [pdf] (fcc.gov)
153 points by aaronbrethorst 37 days ago | hide | past | favorite | 10 comments

"...the ruling is subject to the requirement that Cumulus obtain specific approval for any foreign individual, entity, or group of such individuals or entities that holds, or would hold, directly and/or indirectly, more than five percent (or more than 10 percent for certain institutional investors) of the equity and/or voting interests, or a controlling interest, in the company."

Which would be trivial when those individuals are lobbying the decision makers and bankrolling fcc-supporting entities.

for anyone else mislead by the title, this is not a blanket change but looks to be an exception being granted to an entity that owns 450 radio broadcast station licenses

That... isn't misleading...?

in conjunction with a bankruptcy-driven reorganization.

Ah, for a second I thought the US may be opening itself up to competition. But it is just regulatory capture as usual. Lovely.

Ya, this is going to end well for us.

From wikipedia... Cumulus Media, Inc. is an American broadcasting company and is the third largest owner and operator of AM and FM radio stations in the United States behind Entercom and iHeartMedia, Inc. As of June 2019, Cumulus lists ownership of 428 stations in 87 media markets.

Queue China...



Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact