FCC Urges Rules for More Foreign Investment

U.S. telecommunications companies would be open to greater foreign investment under rules proposed by the Federal Communications Commission. The initiative marks the commission’s first step toward carrying out an agreement to open international markets that was reached by 69 countries at the World Trade Organization telecommunications talks earlier this year. The FCC’s plan, which would become final by the WTO-approved deadline of Jan. 1, would lift the 25% cap on indirect foreign ownership and offer waivers for the 20% limit on direct ownership. It would also eliminate a test used to determine whether foreign radio and television carriers wishing to enter the U.S. market will hold to U.S. competition standards.