(Photo by Gage Skidmore)Key Points The FCC unanimously voted to codify long-standing foreign ownership rules for broadcast radio and TV licensees. Under the new rules, the FCC is codifying interpretations and practices developed under Section 310(b) of the Communications Act, which governs foreign ownership of FCC licensees. All three commissioners acknowledged that foreign investment has historically played an important role in innovation, job creation and broader U.S. economic growth. Carr pointed to the agency’s “Delete, Delete, Delete” initiative, which aims to reduce regulatory burdens by removing outdated or uncodified requirements from the books. Carr said the FCC has approved numerous transactions involving foreign investment over the past decade, often addressing new questions about how its foreign ownership rules should be applied.