NEWS Federal Communications Commission 445 12th Street, S.W. Washington, D. C. 20554 This is an unofficial announcement of Commission action. Release of the full text of a Commission order constitutes official action. See MCI v. FCC. 515 F 2d 385 (D.C. Circ 1974). News Media Information 202 / 418-0500 Internet: http://www.fcc.gov TTY: 1-888-835-5322 FOR IMMEDIATE RELEASE: NEWS MEDIA CONTACT: August 9, 2011 Thomas Sullivan: (202) 418-0411 Email: Thomas.Sullivan@fcc.gov FCC Continues Regulatory Reform Efforts: Proposes Streamlining Review Process for Foreign Ownership in U.S. Companies Holding Wireless Licenses Washington, D.C. – As part of its ongoing regulatory reform efforts, the Federal Communications Commission today adopted a Notice of Proposed Rulemaking (NPRM) to reduce regulatory burdens and streamline the foreign ownership review process for U.S. companies with common carrier radio licenses (e.g., wireless phone companies) and certain aeronautical radio licenses. The proposals would ensure that the Commission continues to receive the information it needs to serve the public interest while reducing the number of required filings by more than 70%. Today’s NPRM does not address foreign ownership of broadcast licensees. Section 310(b)(4) of the Communications Act establishes a 25 percent benchmark for foreign investment in U.S. companies that directly or indirectly control a U.S. broadcast, common carrier, or aeronautical radio station licensee. It also grants the Commission discretion to allow higher levels of foreign ownership unless such ownership is inconsistent with the public interest. Based on the Commission’s extensive experience with foreign ownership reviews over the past several years, the NPRM seeks comment on proposed measures to revise and simplify the process for reviewing requests for higher levels of foreign ownership in wireless common carrier and aeronautical licensees, and spectrum lessees. The proposed changes would provide greater transparency and more predictability as to what information the Commission needs to carry out its statutory duties under the Act, and would reduce costs for U.S. wireless carriers seeking approval of foreign ownership above the 25 percent benchmark. Earlier today, Ruth Milkman, Special Counsel to the Chairman for Innovation in Government, published a blog post regarding the Commission’s regulatory reform efforts: http://www.fcc.gov/blog/retrospective-analysis-fcc. Action by the Commission August 9, 2011, by Notice of Proposed Rulemaking (FCC 11-121). Chairman Genachowski, Commissioners Copps, McDowell, and Clyburn. Separate statements issued by Chairman Genachowski, Commissioners Copps, McDowell, and Clyburn. Docket No.: IB Docket No. 11-133 – FCC – For further information, contact Thomas Sullivan, International Bureau at (202) 418-0411; (202) 418-0431 (TTY); email: Thomas.Sullivan@fcc.gov. For more news and information about the FCC please visit: www.fcc.gov.