iHeartMedia Files With FCC To Remove 'Debtor-in-Possession' Status From License Companies

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AMFM BROADCASTING LICENSES, LLC; AMFM RADIO LICENSES, LLC; AMFM TEXAS LICENSES, LLC; CAPSTAR TX, LLC; CC LICENSES, LLC; CITICASTERS LICENSES, INC.; and CLEAR CHANNEL BROADCASTING LICENSES, INC. have filed the applications to move back from debtor-in-possession status in preparation for parent iHEARTMEDIA's emergence from Chapter 11 bankruptcy. The reorganized iHEART would have only one entity holding an attributable percentage, LIBERTY MEDIA CORPORATION's MOULD FOUNTAIN FUNDING, LLC (replacing the previous BAIN CAPITAL and THOMAS H. LEE PARTNERS interests and pre-organization shareholders) along with iHEART itself, its license and other subsidiaries, and officers and directors.

The plan includes two divestitures to be announced in the GRAND FORKS, ND-MN and BRUNSWICK, GA markets, where the company had grandfathered status to be over the ownership caps but now must divest one station in each market. 

In other filings with the FCC, JOSEPH FIORI is selling K276FY/SANTA ROSA, CA to ONE MINISTRIES, INC. for $105,000.  The primary station is Christian Alternative KORB (BROKEN FM)/HOPLAND, CA.

CORNERSTONE COMMUNITY RADIO, INC. is selling W246CO/LINCOLN, IL to 2820 COMMUNICATIONS INC. for $10,000.  The primary station is listed as Religion WSPI (SPIRIT RADIO)/ELLSWORTH, IL.

JEANNETTE TULLY's passing has led to trusteeship for the OCEAN STATION TRUST LLC, the iHEARTMEDIA spinoff trust holding the licenses of Spanish Hits WKOX-A (RUMBA 1430)/EVERETT-BOSTON, MA, Contemporary Christian KTDD/EATONVILLE-TACOMA, WA, and Smooth Jazz KFNY/CENTRALIA, WA, and ALOHA STATION TRUST, LLC, holding thirteen licenses, transferring to her executor BILLIE M. TULLY.

Filing for STAs were RCA BROADCASTING, LLC (KFRO-A/LONGVIEW, TX, reduced power after vandalism) and  RADIOACTIVE, LLC (WUPG/REPUBLIC, MI, reduced power to return the station to the air despite transformer issues).

Applying for an extension of its Silent STA was CREATIVE FRESNO (KCFZ-LP/FRESNO, needs more time to move site).

EDWARDS COMMUNICATIONS, LC has closed on the sale of News-Talk WHAK-A/ROGERS CITY, MI to JOHN P. YOB's MITTEN NEWS LLC for $12,000.

And R & B COMMUNICATIONS, INC. has closed on the sale of Sports WWTM-A and W232DL (ESPN 1400)/DECATUR, AL  to BRANTLEY BROADCAST ASSOCIATES, LLC for $117,000.

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