FCC Provides Details on Ownership Reporting Rules
FCC recently confirmed changes to its ownership reporting requirements for
commercial broadcast stations. Those rules were revised in May, requiring all
commercial stations, including LPTVs and Class As, to file an FCC form 323
every other year. A subsequent challenge by the National Association of
Broadcasters was turned down by the FCC’s Further
Notice of Proposed Rulemaking released Oct. 16.
The Notice ratified a Media Bureau decision to push the filing deadline from
Nov. 1 to 30 days after modifications to Form 323 are approved by the Office of
Management and Budget. Those revisions are still in progress, though some are
established. Each filing must have an FCC Registration Number, as well as all
officers, directors and shareholders disclosed on the forms.
A requirement that all minority shareholders must file has been changed. The
Further Notice granted the NAB’s request for reconsideration on the item, and
seeks more feedback on how precisely to handle minority shareholder ownership.
The comment period is 30 days after publication in the Federal Register; the
reply comment period is 45 days after publication.
FCC media ownership dockets include: 07-294, Promoting Diversification of
Ownership in the
Broadcasting Services; 06-121, 2006 Quadrennial Regulatory Review of the
Commission’s Broadcast Ownership Rules; 02-277, 2002 Biennial Regulatory Review;
01-325, Cross-Ownership of Broadcast Stations and Newspapers; 01-317, Rules and
Policies Concerning Multiple Ownership of Radio Broadcast Stations in Local Markets; 00-244, Definition of Radio Markets; and 04-228, Ways to Further Sec.
257 Mandate and to Build on Earlier Studies.