Hochman Hawaii Five Inc. has reached a consent decree with the FCC over an improper transfer of control of Y-106.5 Maui (KRYL). The case originated when the FCC was reviewing a transfer of control application and discovered that George Hochman, the licensee, had acquired control of the company in 2020 without prior authorization.
It was then uncovered another shareholder also gained control in 2017 without authorization. In 2011, the company had four shareholders, including Hochman, with equal voting stock. However, when one shareholder passed away in 2014, their estate transferred their stock to another investor in 2017 without FCC approval, giving them 50% ownership. In 2020, this investor transferred all voting stock to Hochman without FCC involvement.
As part of the consent decree, Hochman Hawaii Five Inc. acknowledges violating the relevant rules and agrees to pay a $10,000 civil penalty. Upon payment and resolution of the matter, the FCC’s Audio Division of the Media Bureau will grant the transfer application. This agreement allows for the resolution of the case, provided the penalty is paid and no further issues arise.
