The Federal Communications Commission (FCC) has imposed a $660,639 fine on Truphone, Inc. for exceeding FCC license foreign ownership limits. US-organized entities controlling common carrier radio station licenses must obtain FCC approval before their foreign ownership exceeds 25 percent of their equity or voting interests. FCC approval is also required for previously vetted radio licensees seeking to add new foreign investors with a proposed five percent or greater equity or voting interest.
Truphone is alleged to have not disclosed its ownership structure to the FCC before vesting control in its present ownership and did not seek FCC approval before it allowed a foreign investor to acquire over five percent of that company.
