What if Carlos Slim bought Cumulus?

Carlos Slim is one of the richest men in the world. He is a citizen of Mexico, a country that has worked hard to buy up control of US radio and TV stations for unknown(!) reasons.

An FCC rule originally created in the 1930s, shortly after the creation of the FCC – limits “foreign” ownership or governments having programming control over radio stations in the United States. This was done specifically because the German Bünd sympathizers in the United States were suspected of planning to use radio stations to rally Americans to oppose US intervention in Europe, even after it became clear that the Nazi regime was looking to take over Europe.

FDR was making little headway in convincing America to get involved militarily in Europe – in part because Germans and Italians were the largest immigrant groups in the United States. New England is the exception, where most people trace their roots back to England. But even there, some Irish Catholic people – like Joe Kennedy, father of JFK – liked the idea of the Germans bombing London from the air.

The FCC just proposed to allow radio station holding companies (like Iheart, cumulus, CBS radio, alpha media) to be 49.9% owned by “foreigners”, up from the current 25%. On a “case-by-case” basis foreigners could own 100% of a radio station group, if the appropriate bribes have been paid or political reasons are the motive.

https://www.fcc.gov/document/fcc-proposes-streamline-ownership-procedures-broadcasters

I have written before that even this rule is pointless – as in 2015 the “owners” of most corporations are the debt holders, not the people who own equity (stock). They have no national loyalty.

So just any day now, Carlos Slim may buy Cumulus and convert all of those Nash country music stations to play Mariachi music. Viva la Raza, Amigos!