iHeart seeks FCC approval to transfer Global ownership stake

iHeartMedia has filed a petition with the Federal Communications Commission to approve changes in its foreign ownership structure involving Global Media & Entertainment Investments Ltd (GMEI).

The proposed change would allow some or all of GMEI’s stake in iHeart to be transferred to a related company, Global Media Investments Limited (GMI). Both companies are ultimately controlled by UK citizen Michael Tabor.

iHeart also seeks approval for 14 individuals and entities associated with GMEI and GMI to hold over 5% of its equity or voting interests, and for them to increase their collective stake up to 14.99%.

These include Ashley Tabor-King, who is expected to have more involvement going forward, along with directors and officers from GMI.

The company says the update won’t affect the overall level of foreign investment. The FCC had already approved up to 100% foreign ownership in 2020 and granted specific permission for GMEI’s stake in 2021, subject to ongoing compliance with a national security agreement with the US Department of Justice.

The new entities are registered in the UK, the Bahamas, Jersey, and the British Virgin Islands, and iHeart points out that all the individuals involved are citizens of the UK. The petition says this supports US trade and investment policy, especially as the ownership remains with an ally of the US.

The FCC decided not to send the request for additional government review, noting that Michael Tabor had already been vetted and the change is modest. The Department of Justice advised it sees no need for further referral.

The comment deadline is 18 July 2025 and reply comments are due by 4 August. The filing is under MB Docket No. 25-200 and more details are available via the FCC’s electronic filing system.