Skip to main content
Loading…
This section is included in your selections.

A. A franchise issued pursuant to this chapter shall not be sold, assigned, transferred, leased, or disposed of, either in whole or in part, either by involuntary sale or by voluntary sale, merger, consolidation, or otherwise hypothecated in any manner, nor shall title thereto, either legal or equitable, or any right, interest, or property therein pass to or vest in any person or entity, or the controlling interest in any corporation holding a franchise hereunder be changed, without the prior consent of the city council, and then only under such conditions as may be required by the city council. Such a transfer of control is not limited to major interest holders but includes actual working or de facto control by minor interest holders in whatever manner exercised. Every change, transfer or acquisition of control of the franchisee shall make the franchise subject to cancellation unless and until the city shall have consented. Such consent shall not be unreasonably withheld.

B. The franchisee shall promptly notify the city of any proposed change in control of the franchisee. A formal application for approval of a proposed transfer of control shall be filed within 30 days of such notification and the city council shall render its formal decision within 120 days of receipt of said application by the city, unless the franchisee and the applicant shall agree in writing to an extension of said period. The application shall include, among other things, a copy of any and all documents relating to the sale or transfer and any filings by any party to the transaction at any state or federal agency including, but not limited to, the FCC, the Department of Justice, the Federal Trade Commission, and the Securities and Exchange Commission. An original and three copies of the text of the application shall be filed and additional copies as the city may request.

C. The proposed purchaser, transferee, or assignee must show financial responsibility as determined by the city and must agree to comply with all provisions of the franchise and this chapter, including any provisions which the city may amend or add prior to approval of the transfer.

D. For the purpose of determining whether it shall consent to such change, transfer, or acquisition of control, the city may inquire into all qualifications of the prospective controlling party, and the franchisee shall assist the city in any such inquiry. The city may require any reasonable conditions which it deems necessary at the time of review to ensure that the cable television system will satisfy the public interest of the city and its citizens for the balance of the term of the franchise.

E. BMC 5.50.040 shall apply to any transfer as if the transferee were an applicant for a new franchise.

F. Subsection A of this section notwithstanding, this section shall not be deemed to require city approval of:

1. Transfers from a franchisee to another person or entity controlling, controlled by, or under common control with a franchisee; or

2. Transfers required for mortgaging or similar financing purposes associated with the construction or operation of a cable television system which involve pledging the system as collateral. (Ord. 1708 § 1, 1997).