FCC now allows 100% foreign ownership of US broadcast stations
In a ruling on May 29th, 2020, the Media Bureau of the FCC ruled that American broadcast stations may now be 100% owned by foreign and non-US entities. Until now, foreign ownership was limited to 25%.
The petition, filed and unchallenged, by Cumulus Media was granted (see the ruling below), effectively allowing any non-US entity to buy the media company completely.
Cumulus Media, Inc., is the third largest owner and operator of AM and FM radio stations in the United States. Cumulus lists ownership of 428 stations in 87 media markets.
Cumulus also owns and operates Westwood One (https://www.westwoodone.com).
A link to the FCC ruling: (https://docs.fcc.gov/public/attachments/DA-20-568A1.pdf)