New FCC Foreign Broadcast Ownership Stance Likelyrnto Involve Small Deals at First, Say Attorneys

摘要

The first tests of the FCC’s new openness to increased foreign ownership of broadcasters will likelyrnbe small transactions rather than outright purchases of whole stations, said Covington Burling broadcast attorneyrnMace Rosenstein, speaking at an FCBA event on foreign ownership Monday night. Rosenstein representedrna coalition of broadcasters that asked the commission to clarify its stance on foreign ownership applications,rnleading to its declaratory ruling earlier this month (CD Nov 15 p3). Rosenstein said media attentionrnhad focused on the ruling’s ramifications for large transactions, but smaller deals involving a company’srnownership rising only slightly over the 25 percent threshold would be “the best cases to make law” and beginrnto establish the parameters of the FCC’s new stance on foreign ownership.