Courtesy of INSIDERADIO
For the first time, the Federal Communications Commission has approved an application to allow a U.S. station to become wholly owned by a Canadian company. Border International Broadcasting has secured a waiver to foreign ownership limits as the FCC decided to allow it to move forward with a pending $325,000 deal to buy adult hits “102.7 The Lake” WLYK Watertown, NY from Clancy-Mance Communications.
“We find that the public interest would be served,” the FCC writes in a decision released Tuesday. In November, the federal government’s task force that reviews pending foreign ownership sales for any national security, law enforcement, foreign policy, or trade policy concerns, said it had no objections to the sale.
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