INDIANA – A new Indiana law enacted this year has directed the office of the Indiana Secretary of State to gather information about radio and TV stations and other media with foreign ownership ties. If your station has foreign ownership equal to or greater than 5% of its fair market value, market capitalization, or total voting rights, you must submit a completed Foreign Ownership form.

The form must be completed if any Indiana media entity has received, in aggregate, at least $10,000 in funding from one or more foreign entities.

The text of the new Indiana law can be found here: https://iga.in.gov/laws/2025/ic/titles/24#24-4-25.5

The foreign ownership thresholds are not triggered by normal stock ownership or by advertising purchases, according to the office of the Indiana Secret

See Full Page