Media Bureau Grants Grupo Multimedia Foreign Ownership Request
The FCC Media Bureau approved a request from a Mexican-owned company to be allowed to buy the licensee of two FM stations, said an order Tuesday. The order grants a request for a foreign ownership declaratory ruling to allow Delaware-based…
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limited liability company SMG -- owned by two Mexican investors -- to be allowed to increase its stake in broadcaster Grupo Multimedia from 25 percent to 100 percent, and grants the transfer application. Grupo is the licensee KQMX Lost Hills, California, and KRPH Morristown, Arizona. The foreign ownership request was given the nod by DOJ, DOD and the Department of Homeland Security and the application and petition were unopposed, the order said.