Foreign ownership is not allowed in broadcasting and other media (printed media) services.
"Chapter Four: How to establish the institution
Article 12
The television or radio corporation shall be established in the form of a Lebanese joint-stock company and may not own more than one television corporation and one radio corporation.
Article 13
 All the shares of the company shall be nominal, provided that the following conditions apply to its shareholders:
- The natural person must be Lebanese with legal capacity and has not been convicted of a felony or disgraceful misdemeanor or deprived of civil rights
- The legal person must be a purely Lebanese company whose regulations prohibit the assignment of shares To non-Lebanese natural persons or non-Lebanese companies
- A single natural or legal person is not entitled to own, directly or indirectly, more than /10%/ ten percent of the total shares of the company, and the husband or wife, their ascendants and their minor descendants are considered as one person
- not entitled A single natural or legal person may contribute to more than one company, and the husband or wife and their ascendants and minor descendants are considered as one person.
Article 14
The founders of the company must subscribe to or contribute at least (35%) thirty-five percent of its capital, provided that they are not entitled to sell their shares before the lapse of at least five years from the date of the license. Licensing Decree It is also required, upon each sale or assignment of shares, to re-publish the list in the same manner.
Article 15
Every sale or assignment of shares in a television or radio corporation is subject to prior authorization, which is considered null and void, without effect, even among the contracting parties. A fine not less than the real value of the transferred or transferred shares, and imprisonment from six months to three years, and the shares shall be confiscated in favor of the state that sells them in accordance with the laws in force. The aforementioned, and any agreement aimed at ensuring the implementation of such work or obligating compensation for it in case of non-implementation is considered null and void. 
[...]
Chapter Six: Management of the institution and its duties
Article 28
Each television or radio institution shall appoint a director for its programmes, and each institution of the first category that broadcasts news and political programs shall appoint a responsible director for news and political programs. The director shall be Lebanese for at least ten years, enjoying legal capacity, not convicted of a felony or infamous misdemeanour, and be dedicated to work for the institution.[...] (Broadcast Law 382 of 4 November 1994  [google translation])
Broadcast Law 382 of 4 November 1994 [google translation]
[<a href="http://www.legallaw.ul.edu.lb/Law.aspx?lawId=194151">Law</a>]