Media Bureau Grants Spanish Broadcasting Systems Foreign-Ownership Extension
The FCC Media Bureau granted temporary extension until April 27 to Spanish Broadcasting Systems to permit it to file a remedial petition for declaratory ruling to allow it to exceed the 25 percent foreign-ownership benchmark, said a letter posted Monday.…
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SBS learned after some shareholders served it with a lawsuit that its foreign-ownership percentage may have changed (see 1801250035). The company didn’t know the identities of the shareholders involved until they filed the complaint, and is waiting for information from the shareholders before it can file the amended petition, the letter said. “We are mindful that SBS has been on notice that a violation may exist for at least four months,” the bureau said. “We do not expect to grant any more extensions and are prepared to proceed to enforcement action after that point.”