It is the nightmare of every buyer and seller in a broadcast transaction.
The FCC staff has granted the application permitting the seller to assign the station license to the buyer. As is not unusual, the buyer’s lender does not want to advance the funds for the purchase of the station until the FCC’s grant has become final, and thus incontestable. So, the parties spend the approximately 45 days before the staff’s grant becomes final preparing and approving closing documents.
