WASHINGTON, D.C.—Many in the broadcast industry would welcome infusions of foreign capital. But federal law stipulates that broadcast stations only may be directly owned by a US citizen and foreign interests may have no more than a 20 percent ownership stake.
The FCC is considering amending these restrictions somewhat, but Womble Carlyle Telecom attorney John Garziglia tells Radio World that the changes are “unlikely to open the floodgates” of foreign ownership in the US broadcast industry. However, he says they may bring some new sources of investment capital.
John Garziglia represents radio and television broadcasters, offering personalized assistance in all areas of communications and telecommunications law including transactional and contract negotiations for broadcast station mergers and acquisitions, the securing of financing, governmental auctions of new frequencies, license renewals, new stations applications, facility changes, facility upgrades, licensing, and compliance with FCC rules, regulations and policies.
Follow John Garziglia on Twitter at @JohnGarziglia.