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The Federal Communications Commission has approved a measure that relaxes foreign ownership rules to enable Grupo Televisa of Mexico to claim a larger stake of the U.S. Spanish-language broadcasting giant Univision Communications.
The move comes just days before President-elect Donald Trump takes office.
Univision's chairman, Haim Saban, has been lobbying the FCC for the waiver for more than three years. The measure, which was approved by the FCC's Media Bureau late Tuesday, will enable Univision's private equity owners to sell some of their shares in Univision to Televisa.
"We find that the public interest would not be served by refusing to grant Univision's petition for a declaratory ruling to permit foreign ownership of Univision Holdings," William T. Lake, chief of the FCC's Media Bureau, wrote in Tuesday's 11-page order.
The order noted that allowing Televisa to increase its stake in Univision would not jeopardize national security concerns. The move might also allow an increased financial investment in the Spanish-language media company.
Several of the private equity firms have been eager to unload their stakes in Univision, which is struggling with plummeting prime-time ratings and lower revenue.
(Score: 2) by DannyB on Friday January 06 2017, @08:11PM
I have a nice 60" television. It just uses several internet connected boxen instead of cable / broadcast tuners. The TiVo XL Premiere (series 4) is on a high closet shelf upstairs in my study. It served me well, may it rest in peace.
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