Media Bureau Approves Spanish Broadcasting Foreign-Ownership Request

The FCC Media Bureau approved Spanish Broadcasting System’s application to exceed the 25% foreign-ownership threshold, said a declaratory ruling Friday (see 2212090063). SBS sought approval for foreign investors to hold up to 49.99% aggregate equity interest in the company due to a litigation settlement. Under the settlement, some investors -- including some foreign entities -- would receive a combination of cash and SBS stock and could cause the company's aggregate foreign ownership to exceed the FCC’s 25% benchmark. SBS’ petition was unopposed. The petition is in the public interest because it "provides the company with greater access to foreign capital and thereby contributes to the strengthening of the broadcast industry," said the ruling.