Foreign investment in radio and TV broadcasting is limited to 30%.
"List of Restricted Investment Activities
1. In exercise of the powers conferred under section 42 and section 100(b) of Myanmar Investment Law, with the approval of the Union Government, Myanmar Investment Commission issued the list of  restricted investment activities  as follows: [...]
(D) Investment activities to be carried out with the approval of the relevant ministries:
Investment activities to obtain the approval of the Ministry of Information: 
- Programming and broadcasting activities (Cross ownership between Print Media and Broadcasting Media Service; Broadcasting FM radio programmes; Broadcasting Direct to Home (DTH) programmes; Broadcasting DVB-T2 programmes; Cable TV); [...]" (Myanmar Investment Commission, Notification No. 15/2017, 'List of Restricted Investment Activities')
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"42. The following types of investment businesses shall be stipulated as restricted investment: [...]
(d) investment businesses to be carry out with the approval of the relevant ministries. [...]"(Myanmar Investment Law, The Pyidaungsu Hluttaw Law No. 40/2016 of 18 October 2016, Art. 42)
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"The Standard Criteria for Investment Activities to obtain the approval of the Ministry of Information under MIC Notification(15/2017) section(d) sub-section(2): [...]
3. FM Radio Program Broadcasting Enterprise:  The foreign investors are allowed only 30% of the investment and need to have the permission of Union Government and feedback from Ministry of Information. 
4. Direct to Home (DTH), Television and Broadcasting Enterprise: The foreign investors are allowed only 30% of the investment and need to have the permission of Union Government and feedback from Ministry of Information. 
5. DVB-T2 Television and Broadcasting Enterprise: The foreign investors are allowed only 30% of the investment and need to have the permission of Union Government and feedback from Ministry of Information.
6. Cable TV Enterprise:  The foreign investors are allow only 30% of the investment and need to have the permission of Union Government and feedback from Ministry of Information.[...]" (The Standard Criteria for Investment Activities to obtain the approval of the Ministry of Information under MIC Notification(15/2017) section(d) sub-section(2))
Myanmar Investment Commission, Notification No. 15/2017, 'List of Restricted Investment Activities'
Myanmar Investment Law, The Pyidaungsu Hluttaw Law No. 40/2016 of 18 October 2016, Art. 42.
The Standard Criteria for Investment Activities to obtain the approval of the Ministry of Information under MIC Notification(15/2017) section(d) sub-section(2).
[<a href="http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/20170419_eng_42_update.pdf">Notification</a>],[<a href="http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/myanmar_investment_law_official_translation_3-1-2017.pdf">Law</a>],[<a href="https://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/moi_-_e_22-3-2018.pdf">Criteria</a>]