Media Bureau Approves Estrella Foreign-Ownership Request
The FCC Media Bureau approved Estrella Broadcasting’s request for a declaratory ruling allowing it to be over 25% foreign owned, said an order Thursday. Estrella, formerly Liberman, requested the ruling in 2019 as part of a bankruptcy reorganization and was…
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given the nod by NTIA in 2020. Under the bankruptcy reorganization, several interrelated companies, some of which are based in the Cayman Islands, Ireland, France and Canada, would hold partial interest in Estrella. France-based company Axa “would hold indirectly an aggregate equity interest and voting interest of approximately 24.25% in Estrella," the order said. Estrella’s petition didn’t receive substantive objections and was found to be in the public interest, the order said.