Media Bureau OKs IHeart Foreign Ownership Request
The FCC Media Bureau granted iHeart’s request for a declaratory ruling allowing it to be over 25% foreign owned (see 2002250040), with conditions requested by DOJ and agreed to by the company, said an order Thursday. The radio group sought…
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the ruling after learning its bankruptcy reorganization and the purchase of iHeart shareholder Oppenheimer by Bermuda-based company Invesco mean iHeart is 70% foreign owned. Under terms requested by DOJ, iHeart will maintain a security officer who is a U.S. citizen and resident, protect personally identifiable information and geolocation data, give Justice notice of changes to its business, and annually report on compliance.