GMEI No Longer Seeks OK on IHeart Foreign Ownership
IHeartMedia investor Global Media & Entertainment Investments withdrew a request that the FCC approve iHeart to be up 49.99% foreign-owned, GMEI said in a letter posted in docket 21-141 Thursday. IHeart itself had requested to be only up 14.99% foreign-owned,…
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and opposed GMEI’s request that the FCC increase the percentage (see 2110140043). GMEI is "hopeful" the withdrawal "will conserve the Commission’s and all parties’ resources and enable prompt grant of iHeart’s Petition,” the letter said. The iHeart petition would allow GMEI to increase its position in iHeart up to the allowed percentage. GMEI also spoke with Audio Division Chief Albert Shuldiner on the matter, the letter said. The Committee for the Assessment of Foreign Participation in the U.S. Telecom Services Sector last week OK'd the iHeart petition (see 2110270042).