Most of you have affiliates, subsidiaries or parents who have radio  
licenses.? You should be aware of the fact that the FCC has been imposing  
significant fines in connection with the unauthorized assignment or transfer 
of  control of these licenses.? This often occurs during mergers or  
acquisitions, where the existence of the radio licenses is not considered to 
be  a major element of the deal.? The attached?memorandum by one of my  
partners, Ken Keane in our DC office,?provides a brief update on  
developments in this area.? If you have any questions, or want to follow up  
on Ken's information, please let me know.
?
Dan
 - Radio Licenses Memo.doc