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Expanding Broadcast Ownership Opportunities Act of 2021
12/31/2022, 5:04 AM
Summary of Bill HR 4871
The bill seeks to address concerns about the lack of diversity in media ownership by requiring the FCC to take steps to increase opportunities for women and minorities to own and operate broadcast stations. This includes establishing a program to provide financial assistance to help these groups acquire and operate stations.
Additionally, the bill aims to promote competition in the broadcasting industry by lifting certain restrictions on ownership. Specifically, it would eliminate the FCC's prohibition on owning multiple television stations in the same market, as well as the rule that prevents a company from owning both a newspaper and a television or radio station in the same market. Supporters of the bill argue that these changes will help to level the playing field for smaller, independent broadcasters and increase the diversity of voices in the media landscape. However, critics have raised concerns about the potential for consolidation and decreased competition in the industry. Overall, the Expanding Broadcast Ownership Opportunities Act of 2021 seeks to strike a balance between promoting diversity and competition in the broadcasting industry, while also addressing the challenges faced by women and minorities in accessing ownership opportunities.
Congressional Summary of HR 4871
Expanding Broadcast Ownership Opportunities Act of 2021
This bill requires the Federal Communications Commission (FCC) to take certain actions to increase diversity of ownership in the broadcasting industry and establishes a related tax incentive.
Specifically, the bill requires the FCC to report to Congress regarding (1) recommendations for increasing the total number of broadcast stations that are owned or controlled by members of minority groups or women, (2) the total number of broadcast stations that are owned or controlled by members of minority groups or women, and (3) whether there is a nexus between diversity of ownership or control of broadcast stations and the diversity of the viewpoints expressed on the stations.
In addition, the bill allows companies engaged in the qualifying sale of a broadcast station to receive favorable tax treatment by electing nonrecognition of the gain or loss resulting from the sale. To qualify for this treatment, the sale must result in or preserve ownership and control of a broadcast station by socially disadvantaged individuals.
