WASHINGTON, D.C.–Hispanic Leadership Fund President Mario H. Lopez issued the following statement in response to a recent announcement from Federal Communications Commission Chairman Ajit Pai regarding the agency’s plan to vote on updating outdated media ownership rules:
“The Hispanic Leadership Fund supports modernizing regulations that were written for a vastly different media landscape and that distort the marketplace. One of the most egregious examples is of such rules involves prohibiting TV or radio stations from buying a local newspaper. Fixing these antiquated regulations—which have been in place during a precipitous decline in newspaper ownership—is a fearless step forward in making true progress.
“Media entities cannot exist without investors and need access to capital to grow. To think that a Hispanic-owned radio station could be banned from buying a Spanish-language newspaper in the name of diversifying media ownership is simply absurd. We are excited that Chairman Pai is taking on the inertia that stymies opportunities for growth of media.
“Lastly, we are additionally supportive of the FCC looking to establish an incubator program which will encourage access to media ownership for women and people of color.”
