IHeartMedia Seeks OK for More Foreign Ownership
With iHeartMedia aggregate foreign voting potentially hitting 70.5 percent and its foreign equity potentially reaching 63.9 percent, it petitioned for FCC declaratory ruling allowing up to 100 percent aggregate foreign investment. A filing posted Friday also asked for authorization for…
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partial ownership by foreign entities Pimco and Invesco. The broadcaster said approval would give it more flexibility to accept foreign investment, which would level the playing field between it and competitors not subject to such Communications Act restrictions.