General Discussion

TheBlackAdder

(28,211 posts) Sat Jun 6, 2020, 01:46 PM Jun 2020

FCC Grants the Right of Cumulus Media to be 100% Owned by Foreign Interests.

I.INTRODUCTION

1. In this Declaratory Ruling, the Media Bureau (Bureau) addresses a petition for declaratory ruling (Petition) filed by Cumulus Media Inc. (Cumulus or Petitioner) on July 19, 2018.1 The Petition asks the Commission to exercise its discretion to permit Cumulus to exceed the 25 percent foreign ownership benchmark set out in section 310(b)(4) of the Communications Act of 1934, as amended, (the Act),2 pursuant to section 310(b)(4) and sections 1.5000 et seq. of the Commission’s rules.3 Specifically, the Petition requests approval to permit up to and including an aggregate of 100 percent direct and/or indirect foreign investment (voting and equity) in Cumulus. Cumulus filed the Petition, which is unopposed, on behalf of itself and each of its direct and indirect subsidiaries which hold Commission broadcast licenses.4 As discussed below, we find that it will serve the public interest to grant the Petition, subject to the conditions specified below.
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IV.ORDERING CLAUSES 12.

Accordingly, IT IS ORDERED that, pursuant to section 310(b)(4) of the Communications Act of 1934, as amended, 47 U.S.C. § 310(b)(4), and pursuant to authority delegated to the Media Bureau in section 0.283 of the Commission’s rules, 47 CFR § 0.283, the Petition for Declaratory Ruling filed by Cumulus Media Inc. IS GRANTED subject to the conditions specified herein.13.

IT IS FURTHER ORDERED that this Declaratory Ruling SHALL BE EFFECTIVE upon release.

FEDERAL COMMUNICATIONS COMMISSION

Albert Shuldiner
Chief, Audio Division
Media Bureau