GMEI Presses FCC on iHeart Foreign Ownership Request
The FCC should grant Global Media & Entertainment Investments’ request for a declaratory ruling to own up to 49.99% of iHeartMedia over the radio broadcaster's objections, said a GMEI filing posted in docket 21-141 Wednesday. The radio broadcaster’s arguments (see…
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2105250041) that only the licensee can petition for such “would set a new, dangerous precedent that the Commission cannot veer from the level of advance approval,” said GMEI, which is controlled by U.K. citizens. IHeart sought permission for GMEI to own up to 14.99%. “Acceptance of iHeart’s theory would undermine the Commission’s ability to perform its obligations under the Administrative Procedure Act and otherwise deprive it of its authority to make a public interest determination based on the full record before it,” said GMEI.