FCC Rejects Challenge To Inner City-YMF Deal
September 14, 2012 at 12:24 PM (PT)
The FCC has rejected challenges by NEW YORK Councilman and talk host CHARLES BARRON and three others and, separately, by LLOYD DOUGLAS to the bankruptcy sale of the INNER CITY stations to creditor-owned YMF MEDIA.
BARRON's petition alleged that the sale would "result in an unlawful reduction of programming geared toward Black and local audiences" and that FORTRESS INVESTMENT GROUP had control of the new licensee and had violated alien ownership restrictions as well as engaged in predatory and racially discriminating lending practices that led to the demise of Black-owned stations for its part as manager of the D.B. ZWIRN hedge funds; DOUGLAS, an INNER CITY shareholder, alleged that the lenders gained consent to the transaction from shareholders through fraud, misrepresentation and deceit. The Commission said that FORTRESS does not have an attributable interest in YMF, that the FCC does not take programming decisions into consideration in approving sales, and that DOUGLAS' allegations are properly heard in Bankruptcy Court.
Also, in a deal not yet in the FCC database, EN FAMILIA, INC. has purchased Spanish Talk KIDR-A (RADIO W 740)/PHOENIX from FORCE BROADCASTING, LLC for $1.85 million. FORCE bought the station in 2009 for $1.5 million (NET NEWS 2/25/2009). JODY MCCOY of MEDIA SERVICES GROUP served as broker for both parties.
Meanwhile, in another quiet day for transactions at the FCC, JACOBS RADIO PROGRAMMING, LLC is assigning FM translator K297BE/KENNEWICK, WA to VINCENT SHIFLET for no monetary consideration listed.
EDUCATIONAL MEDIA FOUNDATION has requested a Silent STA for FM translator K224DK/FONTANA, CA while it modifies the station due to interference with full power AC KLST (PLAYLIST 92.7)/FOUNTAIN VALLEY, CA. EMF took the translator silent on MAY 13th.
KEMP COMMUNICATIONS, INC. has applied for an extension of its Silent STA for KVGG/SALOME, AZ
And MAINESTREAM MEDIA, LLC has closed on the acquisition of Classical WBQW (W-BACH)/KENNEBUNKPORT, ME from the NASSAU BROADCASTING bankruptcy auction for $150,000.