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Foreign Ownership

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ENTERTAINMENT
November 14, 2013 | By Joe Flint
The Federal Communications Commission wants to encourage more foreign ownership of television and radio stations. Currently, there is a 25% cap on a foreign company or individual when it comes to owning a stake in a broadcast property. While the cap is not being loosened per se, the FCC said on Thursday that if an investment exceeded 25%, it could still be approved. "The ruling potentially removes obstacles to new capital investment, which will support small business, minority, and female broadcast ownership, and spur innovation," the FCC said in announcing that it was clarifying its foreign ownership policy.
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ENTERTAINMENT
November 14, 2013 | By Joe Flint
The Federal Communications Commission wants to encourage more foreign ownership of television and radio stations. Currently, there is a 25% cap on a foreign company or individual when it comes to owning a stake in a broadcast property. While the cap is not being loosened per se, the FCC said on Thursday that if an investment exceeded 25%, it could still be approved. "The ruling potentially removes obstacles to new capital investment, which will support small business, minority, and female broadcast ownership, and spur innovation," the FCC said in announcing that it was clarifying its foreign ownership policy.
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ENTERTAINMENT
July 4, 2001 | BRIAN LOWRY
The television business often has the feel these days of a Wild West shootout, as heavily armed desperadoes battle for control of a lawless frontier. This at least has seemed the case in regard to the broadcasting business since passage of the Telecommunications Act of 1996, when Congress lifted radio ownership limits as well as the cap governing television stations.
WORLD
October 7, 2013 | By Richard Fausset
ARROYO SECO, Mexico - To nationalistic Mexicans, it may sound like blasphemy. But Artemio Rosas doesn't care. He wants more gringos living in his tiny coastal pueblo. As it stands, a few hundred foreign surfers visit each winter to ride a strong north swell that moves across the smaller of Arroyo Seco's two pristine Pacific beaches. Rosas wants them to stay, buy land and build retirement and vacation homes on this obscure pocket of coast, two hours south of Puerto Vallarta. It would help his surf shop and would help him with his new gig as a real estate broker.
BUSINESS
April 10, 1992 | JUANITA DARLING, TIMES STAFF WRITER
Mexican media giant Grupo Televisa's purchase of a minority interest in the largest U.S. Spanish-language television network has focused attention on an aspect of the talks concerning a North American free trade agreement that until now largely had been overlooked: TV station ownership. Since the possibility of a trade agreement was first discussed, Televisa Chairman Emilio Azcarraga has been pressuring for changes in the U.S.
NEWS
October 6, 1990 | ELIZABETH SHOGREN, TIMES STAFF WRITER
In his next move to revive the Soviet economy, President Mikhail S. Gorbachev will soon issue a decree creating incentives to attract capital from abroad, allowing full foreign ownership of companies here, his top economic advisers said Friday. Another decree, establishing a banking system modeled on the U.S. Federal Reserve System, is also expected soon, Western diplomats said.
BUSINESS
May 3, 1995 | JUBE SHIVER Jr., TIMES STAFF WRITER
Setting aside a controversial proposal to force a costly restructuring of Fox Broadcasting Corp., federal regulators on Thursday will ask media mogul Rupert Murdoch to explain why his company should not be forced to comply with U.S. foreign-ownership laws. The eleventh-hour compromise was reached late Tuesday after FCC Chairman Reed Hundt proved unable to persuade fellow commissioners to approve a staff proposal that would have required Murdoch's Australian holding company, News Corp.
BUSINESS
February 8, 1995 | JUBE SHIVER Jr., TIMES STAFF WRITER
In a bold overhaul of the rules governing foreign ownership of U.S. communications firms, the Federal Communications Commission on Tuesday proposed scrapping the 60-year-old limits on foreign ownership in cases where other countries open their markets to U.S. companies. The new rules, likely to be adopted following a comment period, are designed both to help pry open foreign telecommunications markets and to spur investment and competition in the burgeoning domestic communications industry.
BUSINESS
October 14, 1991 | From Times Staff and Wire Reports
Limit on Press Ownership: The ruling Labor Party appears to be preparing to limit foreign ownership of voting shares in the country's newspapers and magazines. The party last Friday voted to place a ceiling of 20% on foreign ownership of print media properties. The ceiling mirrors a government decision last year to limit foreign ownership of radio and television stations to 20%.
BUSINESS
November 30, 1994 | From Times Staff and Wire Reports
Fox Ownership of TV Stations Challenged: In a petition to be filed with the Federal Communications Commission, NBC says a federal law against foreign ownership of U.S. stations was violated when Rupert Murdoch was allowed to acquire six TV stations in 1985, according the New York Times. Murdoch bought the stations, which became the foundation of the Fox network, through News Corp. of Australia.
BUSINESS
May 19, 2007 | From the Associated Press
Bay Area-based start-up airline Virgin America won final approval Friday to take to the skies in the United States. Federal regulators approved the company's revised plan to operate U.S.-based commercial flights after the company made numerous concessions, including replacing its chief executive, to allay concerns about the foreign ownership stake of Richard Branson's London-based Virgin Group. Virgin America, based in Burlingame, Calif.
BUSINESS
March 3, 2007 | From the Associated Press
European companies would be allowed to hold larger stakes in U.S. airlines under a tentative agreement reached Friday between the U.S. and the European Union. The deal also would give carriers more freedom to choose transatlantic routes and potentially lead to lower fares. The agreement, announced by the Transportation Department, would allow European airlines to fly from anywhere in the EU to any point in the U.S., and vice versa.
OPINION
December 29, 2006
RICHARD BRANSON may have to ditch his accent, renounce his loyalty to the British crown and drape himself in a U.S. flag. Driving a Mustang may help too. That's apparently what it will take for U.S. authorities to allow Virgin America, the nascent U.S. airline that bears his popular brand name, to get off the ground. It was partly Branson's British citizenship that provoked the U.S.
BUSINESS
June 23, 2005 | James F. Peltz, Elizabeth Douglass and Evelyn Iritani, Times Staff Writers
A major Chinese oil company made a landmark offer to buy California-based Unocal Corp. for $18.5 billion on Wednesday, topping a bid by rival U.S. oil giant Chevron Corp. and setting the stage for an intense political debate over the future of U.S. energy, security and trade policies. The unsolicited offer by CNOOC Ltd., an arm of state-owned China National Offshore Oil Corp.
BUSINESS
March 10, 2005 | Debora Vrana, Times Staff Writer
A top executive of a French company targeted by California's lawsuit over the collapse of Executive Life Insurance Co. testified Wednesday that she was aware that a French bank was concerned about "American regulations" prohibiting foreign ownership of insurers.
ENTERTAINMENT
July 4, 2001 | BRIAN LOWRY
The television business often has the feel these days of a Wild West shootout, as heavily armed desperadoes battle for control of a lawless frontier. This at least has seemed the case in regard to the broadcasting business since passage of the Telecommunications Act of 1996, when Congress lifted radio ownership limits as well as the cap governing television stations.
BUSINESS
December 6, 1985
In the latest of a series of liberalizing steps, the government decided that firms with partial foreign ownership may now build new plants without first obtaining government permission. The foreign share of a firm's capital may similarly be increased without prior permission. In both cases, however, the firms have to notify the government of their actions.
BUSINESS
March 11, 1999 | From Times Wire Services
A menage a trois among French banking company BNP and already merging Societe Generale and Paribas could open up the French market and rapidly raise the stakes in the European banking scene.
BUSINESS
January 4, 1997 | From Reuters
Regulators on Friday granted 63 licenses to the top bidder at last year's high-flying wireless phone auction, but on the condition that the company reduces its level of foreign ownership. NextWave Personal Communications Inc. in May bid $4.2 billion at a Federal Communications Commission auction for 56 licenses to offer a new generation of cellular phone service throughout the country. The auction of personal communications service, or PCS, licenses raised a record $10.
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