Media baron Rupert Murdoch would get to keep his TV stations but would have to reduce Australian-based News Corp.’s investment in Fox Television under a proposal being considered by federal regulators.
Federal Communications Commission staff are recommending that News Corp. reduce its 99 percent interest in the Fox Television operation to about 25 percent to comply with federal laws limiting foreign ownership.
The plan arises from a nearly two-year investigation into Fox’s ownership structure.
Critics say the plan is too lenient. The NAACP, which challenged Fox’s ownership structure in 1993, wants the FCC to strip the company of its station licenses.