Goto Section: 73.3613 | 73.3617 | Table of Contents
FCC 73.3615
Revised as of October 1, 2008
Goto Year:2007 |
2009
Sec. 73.3615 Ownership reports.
(a) With the exception of sole proprietorships and partnerships composed
entirely of natural persons, each licensee of a commercial AM, FM, or TV
broadcast station shall file an Ownership Report on FCC Form 323 when filing
the station's license renewal application and every two years thereafter on
the anniversary of the date that its renewal application is required to be
filed. Licensees owning multiple stations with different anniversary dates
need file only one Report every two years on the anniversary of their
choice, provided that their Reports are not more than two years apart. A
licensee with a current and unamended Report on file at the Commission may
certify that it has reviewed its current Report and that it is accurate, in
lieu of filing a new Report. Ownership Reports shall provide the following
information as of a date not more than 60 days prior to the filing of the
Report:
(1) In the case of an individual, the name, race or ethnicity, and gender of
such individual;
(2) In the case of a partnership, the name, race or ethnicity, and gender of
each partner and the interest of each partner. Except as specifically noted
below, the names of limited partners shall be reported. A limited partner
need not be reported, regardless of the extent of its ownership, if the
limted partner is not materially involved, directly or indirectly, in the
management or operation of the licensee and the licensee so certifies.
(i) Any change in partners or in their rights will require prior consent of
the FCC upon an application for consent to assignment of license or permit.
If such change involves less than a controlling interest, the application
for FCC consent to such changes may be made upon FCC Form 316.
(ii) [Reserved]
(3) In the case of a corporation, association, trust, estate or
receivership, the data applicable to each:
(i)(A) The name, residence, citizenship, race or ethnicity, gender, and
stockholding of every officer, director, trustee, executor, administrator,
receiver and member of an association, and any stockholder which holds stock
accounting for 5 percent or more of the votes of the corporation, except
that an investment company, insurance company, or bank trust department need
be reported only if it holds stock amounting to 10 percent or more of the
votes, provided that the licensee certifies that such entity has made no
attempt to influence, directly or indirectly, the management or operation of
the licensee, and that there is no representation on the licensee's board or
among its officers by any person professionally or otherwise associated with
the entity.
(B) A licensee shall report any separate interests known to the licensee to
be held ultimately by the same individual or entity, whether those interests
are held in custodial accounts, by individual holding corporations or
otherwise, if, when aggregated:
( 1 ) The sum of all interests except those held by or through “passive
investors” is equal to or exceeds 5 percent; or
( 2 ) The sum of all interests held by or through “passive investors” is
equal to or exceeds 10 percent; or
( 3 ) The sum of the interests computed under paragraph (a)(3)(i)(B)( 1 ) of
this section plus the sum of the interests computed under paragraph
(a)(3)(i)(B)( 2 ) of this section is equal to or exceeds 10 percent.
(C) If the majority of the voting stock of a corporate licensee is held by a
single individual or entity, no other stockholding need be reported for that
licensee;
(ii) Full information as to family relationship or business association
between two or more officials and/or stockholders, trustees, executors,
administrators, receivers, and members of any association;
(iii) Capitalization with a description of the classes and voting power of
stock authorized by the corporate charter or other appropriate legal
instrument and the number of shares of each class issued and outstanding;
and
(iv) Full information with respect to the interest and identity of any
person having any direct, indirect, fiduciary, or beneficial interest in the
licensee or in its stock accounting for 5% or more of its votes. For
example:
(A) Where A is the trustee of stock held for beneficiary B, A shall be
reported if A votes the stock or has the sole or shared power to dispose of
the stock; B or any other party shall be reported if B or such party votes
the stock or has sole power to dispose of the stock or has the power to
revoke the trust or replace the trustee at will;
(B) Where X is not a natural person and has attributable ownership interest
in the licensee under Sec. 73.3555 of the rules, regardless of its position in
the vertical ownership chain, an Ownership Report shall be filed for X
which, except as specifically noted below, must contain the same information
as required of a licensee. If X has a voting stockholder interest in the
licensee, only those voting interests of X that are cognizable after
application of the “multiplier” described in note 2(c) of Sec. 73.3555 of the
rules, if applicable, shall be reported. If X is a corporation, whether or
not its interest in the licensee is by virtue of its ownership of voting
stock, the officers and directors shall be reported. With respect to those
officers and directors whose duties and responsibilities are wholly
unrelated to the licensee, and who wish to be relieved of attribution in the
licensee, the name, title and duties of these officers and directors, with
statements properly documenting that their duties do not involve the
licensee, shall be reported.
(4) In the case of all licensees:
(i) A list of all contracts still in effect required to be filed with the
FCC by Sec. 73.3613 showing the date of execution and expiration of each
contract; and
(ii) Any interest which the licensee may have in any other broadcast
station.
(b) Except as specifically noted below, each permittee of a commercial AM,
FM or TV broadcast station shall file an Ownership Report on FCC Form 323
(1) within 30 days of the date of grant by the FCC of an application for
original construction permit and (2) on the date that it applies for a
station license. The Ownership Report of the permittee shall give the
information required by the applicable portions of paragraph (a) of this
section. A permittee with a current and unamended Report on file at the
Commission may certify that it has reviewed its current Report and it is
accurate, in lieu of filing a new Report.
(c) Before any change is made in the organization, capitalization, officers,
directors, or stockholders of a corporation other than licensee or
permittee, which results in a change in the control of the licensee or
permittee, prior FCC consent must be received under Sec. 73.3540. A transfer of
control takes place when an individual or group in privity, gains or loses
affirmative or negative (50%) control. See instructions on FCC Form 323
(Ownership Report). Each permittee or licensee of a commercial AM, FM or TV
Broadcast station shall file an Ownership Report on FCC Form 323 within 30
days of consummating authorized assignments or transfers of permits and
licenses. The Ownership Report of the permittee or licensee shall give the
information required by the applicable portions of paragraph (a) of this
section.
(d) Each licensee of a noncommercial educational AM, FM or TV broadcast
station shall file an Ownership Report on FCC Form 323–E when filing the
station's license renewal application and every two years thereafter on the
anniversary of the date that its renewal application is required to be
filed. Licensees owning more than one noncommercial educational AM, FM or TV
broadcast station with different anniversary dates need file only one Report
every two years on the anniversary of their choice, provided that their
Reports are not more than two years apart. A licensee with a current and
unamended Report on file at the Commission may certify that it has reviewed
its current Report and that it is accurate, in lieu of filing a new Report.
Ownership reports shall give the following information as of a date not more
than 60 days prior to the filing of the Ownership Report:
(1) The following information as to all officers, members of governing
board, and holders of 1% or more ownership interest (if any): Name,
residence, office held, citizenship, principal profession or occupation, and
by whom appointed or elected.
(2) Full information with respect to the interest and identity of any
individual, organization, corporation, association, or any other entity
which has direct or indirect control over the licensee or permittee.
(3) A list of all contracts still in effect required by Sec. 73.3613 to be filed
with the FCC, showing the date of execution and expiration of each contract.
(4) Any interest which the licensee or permittee or any of its officers,
members of the governing board, and holders of 1% or more ownership interest
(if any) held in any other broadcast station.
(e) Each permittee of a noncommercial educational AM, FM or TV broadcast
station shall file an Ownership Report on FCC Form 323–E:
(1) Within 30 days of the date of grant by the FCC of an application for
original construction permit and;
(2) On the date that it applies for a station license. The Ownership Report
of the permittee shall give the information required by the applicable form.
A permittee with a current and unamended Report on file at the Commission
may certify that it has reviewed its current Report and it is accurate, in
lieu of filing a new Report.
(f) Each permittee or licensee of a noncommercial educational AM, FM or TV
Broadcast station shall file an Ownership Report on FCC Form 323–E within 30
days of consummating authorized assignments or transfers of permits and
licenses. The Ownership Report of the noncommercial educational permittee or
licensee shall give the information required by the applicable form.
(g) A copy of all ownership and supplemental ownership reports and related
material filed pursuant to this section shall be maintained and made
available for public inspection locally as required by Sec. Sec. 73.3526 and
73.3527.
[ 44 FR 38513 , July 2, 1979, as amended at 49 FR 19498 , May 8, 1984; 50 FR 27450 , July 3, 1985; 50 FR 40016 , Oct. 1, 1985; 53 FR 2499 , Jan. 28, 1988;
53 FR 5684 , Feb. 25, 1988; 63 FR 70050 , Dec. 18, 1998; 66 FR 9973 , Feb. 13,
2001; 66 FR 12897 , Mar. 1, 2001]
Goto Section: 73.3613 | 73.3617
Goto Year: 2007 |
2009
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