Yes, the Federal Communications Commission (FCC) absolutely regulates broadcasting in Puerto Rico and Guam. A common misconception suggests otherwise, but as territories of the United States, both fall squarely under federal jurisdiction.
The Communications Act of 1934 grants the FCC authority over "interstate and foreign communication by wire or radio" across the entire United States, including its territories and possessions. This means:
While the Puerto Rico Telecommunications Regulatory Board and the Guam Public Utilities Commission exist, they generally regulate intrastate telecommunications services (like local landline rates, cable TV franchising, and some consumer complaints) and utility services. They do not supersede FCC authority over broadcast licensing or spectrum.
In short: The FCC is the primary broadcast regulator for Puerto Rico and Guam, just as it is for the 50 states.