§ 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)(1) An attributable interest in a winning bidder or in a medium of mass
   communications shall be determined in accordance with § 73.3555 and Note 2 to
   § 73.3555. In addition, any interest 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.

   (2) Notwithstanding paragraph (c)(1) of this section, where the winning
   bidder is an eligible entity, the combined equity and debt of the interest
   holder in the winning bidder may exceed the 33 percent threshold therein
   without triggering attribution, provided that:

   (i) The combined equity and debt of the interest holder in the winning
   bidder is less than 50 percent, or

   (ii) 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
   paragraph (c)(2) of this section, 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 121.201, at the time the transaction is approved by the FCC, and
   holds:

   (A) 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

   (B) 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

   (C) 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;
    75 FR 27200 , May 14, 2010]

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