FCC Approves Updated iHeart Foreign Ownership Plan

RADIO ONLINE | Wednesday, July 8, 2026 | 2:17pm CT

Federal Communications Commission (FCC)

The FCC's Media Bureau has approved iHeartMedia's request to update its foreign ownership structure, clearing the way for several new foreign individuals and affiliated entities to hold indirect ownership interests in the company while leaving previously authorized ownership limits unchanged.

In a Declaratory Ruling released Tuesday, the Bureau granted iHeart's petition under Section 310(b)(4) of the Communications Act, reaffirming the company's authority to have aggregate foreign ownership of up to 100% while approving changes involving an existing investor, Global Media & Entertainment Investments Ltd. (GMEI).

The filing stems from a proposed restructuring in which GMEI plans to transfer some or all of its iHeart holdings to a related U.K.-based company, Global Media Investments Limited (GMI). The change also required FCC approval for several additional foreign executives and entities associated with the investment group. The Commission noted the restructuring does not increase iHeart's overall level of foreign ownership or alter previously approved ownership limits.

The Bureau said the revised ownership structure serves the public interest by providing iHeart with continued flexibility to access foreign investment capital while helping the broadcaster compete in the media marketplace. It also concluded the proposal raises no new national security or law enforcement concerns beyond those previously reviewed.

The ruling specifically authorizes GMI and related entities and individuals to hold more than a 5% interest in iHeart and grants advance approval for their combined ownership to increase to a non-controlling level of up to 14.99%. It also reaffirms prior approvals for the PIMCO investment group, allowing it to hold up to 32.99% of iHeart's equity and 19.99% of its voting interests.

The FCC noted that iHeart remains subject to the terms of a 2020 Letter of Agreement with the U.S. Department of Justice governing national security and reporting obligations. The company must continue monitoring its foreign ownership levels and obtain FCC approval before any future foreign investor exceeds the Commission's ownership thresholds.

No comments opposing the petition were filed during the FCC's public comment period, and the Declaratory Ruling became effective upon its release on July 7.