The Federal Communications Commission has granted a petition by iHeartMedia to increase its allowed level of foreign ownership. Under the new ruling, the broadcaster can welcome new investments tied to Global, which operates as the largest commercial radio operator in the United Kingdom. While the regulatory action permits additional equity from these specific British backers, the aggregate international ownership ceiling established for the company remains unchanged. This decision allows the nation’s biggest radio group to diversify its capitalization while maintaining strict compliance with federal broadcast ownership limits.
Source: FCC Declaratory Ruling