Sec.  73.5008   Definitions applicable for designated entity provisions.

   (a) Scope. The definitions in this section apply to 47 CFR 73.5007, unless
   otherwise specified in that section.

   (b)  A  medium of mass communications means a daily newspaper; a cable
   television system; or a license or construction permit for a television
   broadcast station, an AM or FM broadcast station, or a direct broadcast
   satellite transponder.

   (c) An attributable interest in a winning bidder or in a medium of mass
   communications shall be determined in accordance with  Sec. 73.3555 and Note 2.
   In addition, the attributable mass media interests, if any, held by an
   individual or entity with an equity and/or debt interest(s) in a winning
   bidder  shall  be  attributed  to  that winning bidder for purposes of
   determining its eligibility for the new entrant bidding credit, if the
   equity (including all stockholdings, whether voting or nonvoting, common or
   preferred)  and  debt  interest or interests, in the aggregate, exceed
   thirty-three (33) percent of the total asset value (defined as the aggregate
   of all equity plus all debt) of the winning bidder, or where the winning
   bidder is an eligible entity, the combined equity and debt of the interest
   holder in the winning bidder is less than 50 percent or the total debt of
   the interest holder in the winning bidder does not exceed 80 percent of the
   asset value of the winning bidder and the interest holder does not hold any
   equity interest, option, or promise to acquire an equity interest in the
   winning  bidder  or  any related entity. For purposes of the preceding
   sentence, an “eligible entity” shall include any entity that qualifies as a
   small business under the Small Business Administration's size standards for
   its industry grouping, as set forth in 13 CFR 121 through 201, at the time
   the transaction is approved by the FCC, and holds

   (1) 30 percent or more of the stock or partnership interests and more than
   50 percent of the voting power of the corporation or partnership that will
   own the media outlet; or

   (2) 15 percent or more of the stock or partnership interests and more than
   50 percent of the voting power of the corporation or partnership that will
   own  the media outlet, provided that no other person or entity owns or
   controls  more than 25 percent of the outstanding stock or partnership
   interests; or

   (3) More than 50 percent of the voting power of the corporation that will
   own the media outlet if such corporation is a publicly traded company.

   [ 63 FR 48629 , Sept. 11, 1998, as amended at  64 FR 24527 , May 7, 1999;  64 FR 44858 , Aug. 18, 1999;  69 FR 72045 , Dec. 10, 2004;  73 FR 28370 , May 16, 2008]