Broadcast License Renewal Reform Act

Broadcast License Renewal Reform Act - Provides that the term of any license, or the renewal thereof, for operation of a broadcasting station may not exceed three years, and for any other class of station may not exceed five years.

Provides that licenses may be renewed if the Federal Communications Commission finds that the public interest, convenience, and necessity would be served by the renewal. Sets forth criteria to be used in determining whether the licensee has rendered a substantial informational program service to its community. Provides that the criteria shall include consideration of the manner in which program time is allocated and equal employment opportunities offered by the station. Directs that the Commission shall not require any applicant to file any information which is not directly material to the considerations that affect the granting of denial of such application.

Directs the Commission to provide that a petitioner may obtain discovery regarding any matter, not privileged, which is relevant to the granting or denial of the petition. Provides that the Commission shall not grant an application without a hearing if it finds that the applicant: (1) has failed to render substantial service; (2) has not adequately ascertained the interests of its community of service; or (3) has not made efforts to assure equal employment opportunities.

Provides that licenses shall be subject to the terms agreed to by the applicant and members of its community of service if the Commission determines that such agreement serves the public interest.

Directs the Commission to award compensation for reasonable expenses, including attorney's fees, of participating in any rulemaking proceedings of the Commission or in any proceeding before a joint board or a Federal-State joint board whenever public participation in the proceeding can reasonably be expected to promote a full and fair determination of the issues involved.

Requires the Commission to act upon any petition for rulemaking within 180 days from its submission. Sets forth criteria for the transfer or assignment of licenses which include consideration as compared to the value of the assets transferred and a compelling public interest.

Provides that the Commission shall conduct a study to determine how to reduce the scarcity of broadcast frequencies and to further the goals of maximum feasible access of local communities to diverse sources of information.