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Radio Cleveland Enters Consent Decree with Commission


FCC
FCC

The FCC has entered into a Consent Decree with Radio Cleveland Inc. resolving issues arising from an admitted unauthorized transfer of control of the company as a result of two unapproved stock transfers. On June 17, 2020, Radio Cleveland filed an application to transfer control of station WAID-FM/Clarksdale, MS, and on September 9, 2020, Radio Cleveland filed an additional transfer of control application with respect to its remaining Mississippi stations.

Specifically, the applications sought Commission consent to transfer 45% of Radio Cleveland's shares from Clint L. Webster (Webster) to Kevin W. Cox (Cox), and 10% of Radio Cleveland's shares from Greg Shurden (Shurden) to Cox (the Stock Transfers), resulting in Cox holding 100% of the voting and ownership interest in Radio Cleveland. However, the two asset purchase agreements (APAs) that were submitted concurrently with the Applications indicated that the Stock Transfers had already occurred -- specifically, on or before January 1, 2020.

After an inquiry, counsel for Radio Cleveland confirmed that, as disclosed in the APAs, the Stock Transfers had occurred prior to the filing of the Applications. Under FCC rules, no construction permit or station license, or any rights thereunder, shall be transferred, assigned, or disposed of in any manner without the Commission's permission.

Radio Cleveland stipulated that it violated the rules when Webster and Shurden transferred a controlling interest in the company to Cox prior to obtaining Commission consent. Accordingly, Radio Cleveland agreed to make a $6000 civil penalty payment to the U.S. Treasury and the Bureau agrees to terminate its investigation into the violation.

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