While Congress continues to debate the underlying principles of immigration reform legislation, the Federal Communications Commission (FCC) has been taking steps to make it easier for aliens to own stakes in U.S.-based media and communications companies. In April, the FCC voted unanimously to streamline its rules for reviewing the foreign ownership of American corporations with common carrier wireless licenses and aeronautical radio licenses under sections 310(b)(3) and 310(b)(4) of the Communications Act.
At the FCC, this historic, yet under the radar, action is seen as a sign of growing acceptance to foreign ownership—and at an especially critical time. Virtually all leading economists see capital investment in communications technology and U.S. competitiveness in the world economy as mutually dependent. And the FCC’s work may not be done. At least two commissioners want the agency to act on a proposal to refrain from applying a provision of the Communications Act that prohibits more than 25 percent of a broadcasting company to be owned by a foreign entity.
The faculty for this program will discuss these developments and their impact on FCC regulation, the media-and-communications sector, and foreign ownership laws in the United States.
- Understand current trends in foreign ownership of media and telecommunications companies and the Federal Communications Commission’s regulatory role in overseeing a changing global marketplace.
- Learn about the consequences of the FCC loosening rules to encourage foreigners to invest more in the United States.
- Hear insights about the FCC’s recent actions that could have far-reaching implications for other industries—and global commerce.
Speaker: Angela E. Giancarlo