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ARTICLE · 23 JULY 2020

FCC Seeks Comment On Simplifying Filing Obligations For Pro Forma Transactions

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An area in which businesses have repeatedly and inadvertently run afoul of the rules of the Federal Communications Commissions (FCC) is determining when a corporate transaction

United StatesMedia, Telecoms, IT, Entertainment
Jennifer Richter
Jennifer Richter
Galen Roehl
Galen Roehl
Steven Rowings
Steven Rowings
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An area in which businesses have repeatedly and inadvertently run afoul of the rules of the Federal Communications Commissions (FCC) is determining when a corporate transaction or restructuring involves changes in the ownership chain or voting control of entities holding FCC licenses such that prior FCC approval is required. Failure to obtain the necessary approval can result in FCC enforcement actions against the parties to these transactions and monetary penalties in the hundreds of thousands of dollars to settle these actions, as was the case just last week.

In an attempt to move the FCC to simplify and clarify the application and prior approval requirements for such transactions and restructurings, the wireless and telecommunications industry trade associations CTIA and USTelecom filed a petition with the FCC. The petition requests that the FCC initiate a rulemaking proceeding and issue a declaratory ruling about filing and approval requirements for pro forma trans

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