A bill to amend the Communications Act of 1934 to establish certain limitations relating to the ownership of cable television franchises by certain foreign entities.

Amends the Communications Act of 1934 to prohibit any cable television system from carrying the signal of any television or radio station or of any communications satellite licensed or regulated by the Federal Communications Commission if the cable system is controlled by: (1) an alien; (2) a foreign government; (3) a foreign corporation; (4) a corporation with a foreign officer or director or a corporation that is controlled by aliens, a foreign government, or a foreign corporation; or (5) certain subsidiary corporations. Exempts a foreign owned or controlled cable television system from such prohibition to the extent that the foreign cable system's country allows the United States or a U.S. citizen to operate a cable television system.