FCC Issues Guidance On Expiring CP Sale Rule
April 8, 2009 at 5:22 AM (PT)
The FCC is changing its guidance on the rule giving some buyers of expiring broadcast station construction permits an opportunity to receive additional time to complete construction. The Commission is now telling buyers to get the applications filed at least 90 days before expiration in order to invoke the extension.
The revised Section 73.3598(a) allows a eligible small-business party that buys an expiring permit to have the time remaining on the construction permit or eighteen months from closing the deal, whichever is longer, to complete building the station and file a license application. The rule applies only when a buyer closes on the station before the permit has expired; the Commission says that applications invoking the rule should be on file at least 90 days prior to expiration to allow the FCC staff sufficient time to act and for the applicant to close on the transaction.
The Commission is applying "relaxed processing standards" through MAY 31st to acknowledge possible confusion over the change.