HomeMy WebLinkAbout87-18 - Radio Transmitter and Trasmitting TowerRESOLUTION NO. 87 -18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH CONSENTING TO AN ASSIGNMENT
OF THE LICENSE AGREEMENT FROM DONREY, INC. TO
FINANCIAL CAPITAL BROADCASTING CO. FOR THE
• LOCATION OF A RADIO TRANSMITTER AND
TRANSMITTING TOWER NEAR THE INTERSECTION OF
MONROVIA AVENUE AND 16TH STREET, CONTINGENT
UPON FEDERAL COMMUNICATIONS COMMISSION
APPROVAL
WHEREAS, on October 27, 1980, by Resolution No. 9914,
the City Council of the City of Newport Beach consented to the
transfer to Western Broadcasting Company of a License Agreement
between the City of Newport Beach and Hutton Broadcasting, Inc.
for the use of a radio transmitter, tower, and studio on certain
City -owned property on the south side of 16th Street westerly of
Monrovia Avenue in the City of Newport Beach; and
WHEREAS, on July 1, 1982, Western Broadcasting Company
was merged with and into its parent, Donrey, Inc., a Nevada
corporation, qualified and doing business in the State of
California under the name " Donrey Media Group," and pursuant to
such merger, Donrey, Inc. succeeded to all rights and obligations
of Western Broadcasting Company, including the License Agreement,
as a matter of law; and
WHEREAS, Donrey of Nevada, Inc., a wholly -owned
subsidiary of Donrey, Inc., has entered into an agreement with
Financial Capital Broadcasting Co. for the sale of radio station
KOCM; and
WHEREAS, the sale of said radio station to Financial
• Capital Broadcasting Co. is contingent upon approval by the
Federal Communications Commission; and
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WHEREAS, Donrey, Inc. has requested that the City
consent to the assignment of said License Agreement from Donrey,
• Inc. to Financial Capital Broadcasting Co. to maintain the use of
the radio transmitter, tower, and studio; and
C
WHEREAS, the City Council has considered the assignment
of the License Agreement and found it to be fair and equitable.
NOW, THEREFORE, BE IT RESOLVED, that said License
Agreement shall be assigned from Donrey, Inc. to Financial
Capital Broadcasting Co. at such time as the Federal
Communications Commission approves the transfer of radio station
KOCM from Donrey of Nevada, Inc. to Financial Capital
Broadcasting Co., and such transfer is completed.
BE IT FURTHER RESOLVED that the assignment of said
License Agreement may be executed by the Mayor and City Clerk at
such time as the Federal Communications Commission has approved
the transfer of radio station KOCM to Financial Capital
Broadcasting Co. and such transfer has been completed.
ATVIDTT?n fhie 99th Aux, of Jnniinry 1(197_
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