SBS Withdraws 2017 Foreign Ownership Petition
Spanish Broadcasting System withdrew its 2017 petition for a declaratory ruling allowing it to be more than 25 percent foreign owned, said a letter to the FCC posted Friday. The petition has been held in abeyance since 2018 (see 1805290041).…
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It was being used as evidence SBS raised overlapping issues in a case involving a stock transaction in Delaware State Court and at the FCC, the letter said. “In light of its ongoing misuse,” SBS is withdrawing the petition, the letter said.