[BC] FCC actions

[Tom Taggart]

Don Niccum asked about how long a transfer of control takes to be come  
effective:

The grant allows the transfer to be made the same day, if the seller and  
buyer want to.  Usually it will take a month or two for the other  
paperwork to catch up, such as a title search if there is real estate  
involved.  Then after the closing the buyer should file a "consummation  
notice" with the Commission.

Believe after six months, if nothing happens, the Commission may rescind  
the grant.

Of course, actual transfer of operation can occur earlier (even before the  
grant) under an LMA, but there needs to be a separate LM agreement & this  
has to be disclosed to the Commision as part of the application and  
transfer proces.
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