Most commercially and privately owned radio stations broadcast under oversight of the Federal Communications Commission, or FCC. To operate, these broadcasters must receive a broadcast license through a legal process. When transferring a broadcast license, the parties must have the permission of the FCC before the broadcast license transfer can take place. Obtaining permission is done through an electronic application process that must be completed through the FCC website.
There are different circumstances under which a broadcast license transfer may take place, which will affect which application is used. For instance, a specific application must be filled out when a corporation wishes to transfer the control of the broadcast station to another corporation, and a different application is used when a private owner wishes to sell the broadcast station he owns to a corporation. Yet another application must be filled out in order to transfer permission to construct a broadcast radio station.
Because there are many different forms and differing requirements, if you are considering either buying or selling a broadcast license, you should have the advice of a business lawyer before doing so. The approval of the application by the FCC depends on the reason for selling as well as the legal standing of the purchasing party and the intended new use for the broadcast station. A lawyer can help you select the right application, fill it out properly, and provide the correct supporting documentation so that your broadcast license transfer has the best possible chance of being approved by the FCC.