FCC Eases Foreign Ownership Rules

On April 18, 2013, the FCC announced streamlined policies and procedures for review of foreign ownership of U.S. companies holding common carrier wireless licenses and certain aeronautical radio licenses under Sections 310(b)(3) and 310(b)(4) of the Communications Act of 1934, as amended, 47 U.S.C. §§ 310(b)(3) and 310(b)(4). Specifically, the Commission:

• Eliminated the distinction between foreign investment from WTO Member countries and non-WTO Member companies. Instead, the FCC will apply an "open entry standard" in assessment of all foreign investment under its Section 310(b)(3) forbearance approach;
• Continue coordination with relevant Executive Branch agencies on all petitions for declaratory ruling and applications in which the applicant is owned by foreign entities in excess of of the limits set forth in Sections 310(b)(3) and 310(b)(4);