§  78.35   Assignment or transfer of control.

   (a) No assignment of the license of a cable television relay station or
   transfer of control of a CARS licensee shall occur without prior FCC
   authorization.

   (b) If an assignment or transfer of control does not involve a
   substantial change of interests, the provisions of § § 78.20(c) and
   78.22, concerning public notice and objections, shall be waived.

   (c) Licensees of CARS stations are not required to submit applications
   for assignment or transfer of control or otherwise notify the FCC in
   cases where the change in ownership does not affect the identity or
   controlling interest of the licensee.

   (d) If an assignment or transfer of control involves a substantial
   change of interest, and requires prior FCC approval, the CARS licensee
   is required to file FCC Form 327 with the Commission.

   (e) Licensees are required to notify the Commission of consummation of
   an approved transfer or assignment. The assignee or transferee is
   responsible for providing this notification, including the date the
   transaction was consummated. The transaction must be consummated and
   notification provided to the Commission within 60 days of public notice
   of approval, and notification of consummation must occur no later than
   30 days after actual consummation, unless a request for an extension of
   time to consummate is filed.

   [ 37 FR 15927 , Aug. 8, 1972, as amended at  50 FR 23421 , June 4, 1985;  68 FR 27004 , May 19, 2003]