In June 2020, Radio Cleveland filed an application to transfer control of WAID-FM in Clarksdale, Mississippi. Then in September 2020, Radio Cleveland filed an additional transfer of control application for its remaining stations (along with the WAID application). The other stations were: WCLD-AM, Cleveland, Mississippi; WCLD-FM, Cleveland, Mississippi; WKDJ-FM, Clarksdale, Mississippi; and WMJW-FM, Rosedale, Mississippi
The applications were seeking Commission consent to transfer 45% of Radio Cleveland’s shares from Clint Webster to Kevin Cox, and 10% of Radio Cleveland’s shares from Greg Shurden to Cox, resulting in Cox holding 100% of the voting and ownership interest in Radio Cleveland.
However, the two asset purchase agreements that were submitted concurrently with the applications pointed out that the stock transfers had already taken place around January 1, 2020. And that’s a no-no with the FCC. It’s an unauthorized transfer of control.
Radio Cleveland confirmed the stock transfer did take place before the filing of the application filing at the FCC and agreed to pay the $6,000 fine, which was reduced down from $8,000 because the applicants have never been in trouble at The Commission before.
Read the full consent decree HERE
