§ 101.55   Considerations involving transfer or assignment applications.

   (a) Except as provided for in paragraph (d) of this section, licenses
   not authorized pursuant to competitive bidding procedures may not be
   assigned or transferred prior to the completion of construction of the
   facility.

   (b) [Reserved]

   (c) At its discretion, the Commission may require the submission of an
   affirmative, factual showing (supported by affidavits of a person or
   persons with personal knowledge thereof) to demonstrate that the
   proposed assignor or transferor has not acquired an authorization or
   operated a station for the principal purpose of profitable sale rather
   than public service. This showing may include, for example, a
   demonstration that the proposed assignment or transfer is due to
   changed circumstances (described in detail) affecting the licensee
   subsequent to the acquisition of the license, or that the proposed
   transfer of radio facilities is incidental to a sale of other
   facilities or merger of interests.

   (d) If a proposed transfer of radio facilities is incidental to a sale
   or other facilities or merger of interests, the showing specified under
   paragraph (c) of this section shall be submitted and include an
   additional exhibit that:

   (1) Discloses complete details as to the sale of facilities or merger
   of interests;

   (2) Segregates clearly by an itemized accounting, the amount of
   consideration involved in the sale of facilities or merger of
   interests; and

   (3) Demonstrates that the amount of consideration assignable to the
   facilities or business interests involved represents their fair market
   value at the time of the transaction.

   [ 61 FR 26677 , May 28, 1996, as amended at  63 FR 6104 , Feb. 6, 1998;  63 FR 68982 , Dec. 14, 1998;  65 FR 38327 , June 20, 2000;  68 FR 4955 , Jan.
   31, 2003]

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