A bill to amend the Communications Act of 1934 to limit ownership of national television networks not otherwise subject to Section 310 of the Act and certain large cable television systems by foreign entities or aliens, and for other purposes.

Amends the Communications Act of 1934 to prohibit the direct or indirect ownership or control of a national television network or a cable television multiple system operator that serves at least 250,000 subscribers by: (1) an alien; (2) a foreign government or corporation; (3) any corporation which has an alien officer or director or of which more than one-fifth of the capital stock is owned by an alien or a foreign government or corporation; or (4) any corporation directly or indirectly controlled by any other corporation of which more than one-fourth of the directors are aliens, of which more than one-fourth of the capital stock is owned by aliens or a foreign government or corporation, or of which any officer is an alien if the Federal Communications Commission finds that prohibiting such alien officership serves the public interest.

Eliminates the Commission's authority to permit more than one-fourth of the directors or stockholders of a parent company of a broadcast licensee to be aliens when it serves the public interest.

Declares that the provisions of this Act shall not apply to any interest of ownership or control in existence on February 9, 1984.