SBS Bankruptcy Plan Confirmed but Awaits FCC Ruling on 100% Foreign Ownership
Spanish Broadcasting System's court-confirmed Chapter 11 plan, which would cut funded debt from roughly $310 million to $70 million, cannot take effect until the FCC approves both a license control transfer and a request to permit up to 100% aggregate foreign equity and voting ownership — far beyond the 49.99% equity ceiling the agency authorized in 2023. The FCC Media Bureau opened a public pleading cycle on September 2, 2026, with petitions to deny due October 2, and no approval has been reported. Bankruptcy deadlines have been extended through December 7 to accommodate the regulatory timeline.