The Federal Communications Commission (FCC) has approved a petition for up to 100% foreign equity ownership of a media company with numerous radio stations in the city of Lincoln.
Alpha Media LLC is now allowed to become as much as 100% foreign-owned, on both an equity and voting basis. The FCC Media Bureau has granted the request from the company to surpass the standard 25% foreign ownership cap.
The FCC has increasingly been more open to expanding caps on foreign ownership in broadcasting companies. A growing number of radio groups that have capitalized on this deregulation, including media organizations such as Cumulus Media, iHeartMedia, Spanish Broadcasting System and TelevisaUnivision.
Alpha Media Holdings must monitor its foreign equity and voting interests and report any non-compliance within 30 days, according to the FCC.