Granting and use of radio broadcasting concessions is limited to enterprises with no more than 10% foreign capital, unless the legislation of the country of origin of the foreign capital grants similar conditions on the basis of reciprocity.
"Article 9.- [...]
Concessions for free reception sound broadcasting requested by legal persons with foreign capital participation greater than ten percent, may only be granted if it is previously proven that in their country of origin, Chileans are granted rights and obligations similar to the conditions that these applicants will enjoy in Chile.
The same requirement must be met to acquire an existing concession. The infringement of compliance with this condition will mean the expiration of the concession.[...]" (Law 19.733 on the Freedoms of Opinion and Information and the Practice of Journalism (4 June 2001), subsequently amended, Article 9 [google translation])
Law 19.733 on the Freedoms of Opinion and Information and the Practice of Journalism (4 June 2001), last amended on 23 December 2013, Article 9
[<a href="https://www.bcn.cl/leychile/navegar?idNorma=186049">Law</a>]