FCC Record, Volume 26, No. 7, Pages 4843 to 5761, March 28 - April 08, 2011 Page: 5,194
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made a commitment to be a strong "local voice" at WCWF(DT) and we would expect that commitment to
include some increased news and public affair coverage of the station's community of license, which
would be in the public interest.
In regard to the fourth prong of the waiver standard, the parties have submitted the sworn declaration of
Brian E. Cobb, an experienced broadcast station media broker with the firm of CobbCorp LLC.
("CobbCorp"). The application states that between June 2007and May 2010, CobbCorp sought a buyer
for the station. The application goes on to state that CobbCorp developed a list of 28 potential buyers,
nine of which entered into a non-disclosure agreement and received a copy of the prospectus materials
developed by CobbCorp. Of those nine, only two buyers, both in-market, expressed an interest in
acquiring the station and only LIN offered what the seller believed was a reasonable purchase price.
According to the applicants, it was Mr. Cobb's view, based on his experience in brokering broadcast
stations and his knowledge of the prevailing economic conditions and competitive climate, selling the
station to an out-of-market entity would result in an artificially depressed price. This showing is
consistent with what we have found acceptable in previous decisions."
Upon review of the record, we find TWC's objections to the requested waiver to be without merit. We
will grant the parties' request for a waiver of the local television duopoly rule, and we will grant the
assignment application. The applicants have submitted detailed information regarding the station's bleak
financial situation. The station's negative cash flow and operating losses for the past three years are
consistent with the criterion the Commission has set for determining that a station is "failing." In
addition, WCWF(DT) has rarely exceeded even a two percent audience share for the last three years. In
these circumstances, it is unsurprising that an out-of-market buyer cannot be found. We believe that the
proposed merger of the two stations will not only help WCWF(DT) overcome its existing shortcomings,
but that it will provide a tangible benefit to the community through the expansion of local news and
public affairs programming on the station.
Consistent with the Local Ownership Order, we find that the combined operation of WLUK-TV and
WCWF(DT) will pose minimal harm to our diversity and competition goals because WCWF(DT)'s dire
financial situation hampers its ability to be a viable voice in its market. Under these circumstances,
allowing WCWF(DT) to be operated by a stronger station in the market will result in a definite
improvement in facilities and programming, an outcome which clearly benefits the public interest.
In light of the above discussion, we find that the applicants are fully qualified, and conclude that the grant
of the assignment application would serve the public interest.
ACCORDINGLY, IT IS ORDERED That the petition to deny filed by Time Warner Cable Inc. is
DENIED. IT IS FURTHER ORDERED Tthat the request for a waiver of Section 73.3555 of the
Commission's Rules pursuant to Note 7(2), the "failing station" standard, to permit the co-ownership of
28 See, e.g., Atinden Television Company, Letter. 24 FCC Rcd 10151 (Med. Bur. 2009).
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United States. Federal Communications Commission. FCC Record, Volume 26, No. 7, Pages 4843 to 5761, March 28 - April 08, 2011, book, April 2011; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc52169/m1/366/: accessed April 26, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.