LPFM stations can not be owned by any interests that also have non-LPFM media holdings. Local chapters of national organizations must be independent enough that there is no attributable influence and interest from the national organization on the local organization.
Text of Current Rule
Ownership and other interests in LPFM station permittees and licensees will be attributed to their holders and deemed cognizable for the purposes of Sec. Sec. 73.855 and 73.860, in accordance with the provisions of Sec. 73.3555, subject to the following exceptions:
(a) A director of an entity that holds an LPFM license will not have such interest treated as attributable if such director also holds an attributable interest in a broadcast licensee or other media entity but recuses himself or herself from any matters affecting the LPFM station.
(b) A local chapter of a national or other large organization shall not have the attributable interests of the national organization attributed to it provided that the local chapter is separately incorporated and has a distinct local presence and mission.
(c) A parent or subsidiary of a LPFM licensee or permittee that is a non-stock corporation will be treated as having an attributable interest in such corporation. The officers, directors, and members of a non-stock corporation's governing body and of any parent or subsidiary entity will have such positional interests attributed to them.
Adopted in Original Order. Has not been amended since.