§  25.119   Assignment or transfer of control of station authorization.

   (a) You must file an application for Commission authorization before
   you can transfer, assign, dispose of (voluntarily or involuntarily,
   directly or indirectly, or by transfer of control of any corporation or
   any other entity) your station license or accompanying rights. The
   Commission will grant your application only if it finds that doing so
   will serve the public interest, convenience and necessity.

   (b) For purposes of this section, transfers of control requiring
   Commission approval shall include any and all transactions that:

   (1) Change the party controlling the affairs of the licensee, or

   (2) Affect any change in a controlling interest in the ownership of the
   licensee, including changes in legal or equitable ownership.

   (c) Assignment of license. You must submit an FCC Form 312, Main Form
   and Schedule A to voluntarily assign ( e.g. , as by contract or other
   agreement) or involuntarily assign ( e.g. , as by death, bankruptcy, or
   legal disability) your station authorization. You must file these forms
   electronically through IBFS.

   (d) Transfer of control of corporation holding license. If you want to
   transfer control of a corporation, which holds one or more licenses
   voluntarily or involuntarily ( de jure or de facto ), you must submit
   an FCC Form 312, Main Form and Schedule A. You must file these forms
   electronically through IBFS. For involuntary transfers, you must file
   your application within 10 days of the event causing the transfer of
   control. You can also use FCC Form 312, Main Form and Schedule A for
   non-substantial ( pro forma ) transfers of control.

   (e) Whenever a group of station licenses in the same radio service for
   the same class of facility licensed to the same entity is to be
   assigned or transferred to a single assignee or transferee, a single
   application may be filed to cover the entire group, if the application
   identifies in an exhibit each station by call sign, station location
   and expiration date of license.

   (f) Assignments and transfers of control shall be completed within 60
   days from the date of authorization. Within 30 days of consumation, the
   Commission shall be notified by letter of the date of consummation and
   the file numbers of the applications involved in the transaction.

   (g) The Commission retains discretion in reviewing assignments and
   transfers of control of space station licenses to determine whether the
   initial license was obtained in good faith with the intent to construct
   a satellite system.

   [ 56 FR 24016 , May 20, 1991;  56 FR 29757 , June 20, 1991. Redesignated
   and amended at  62 FR 5928 , 5929, Feb. 10, 1997;  68 FR 51503 , Aug. 27,
   2003;  69 FR 29901 , May 26, 2004]