Title
Resolution No. 17-24, Consenting to the Transfer of Control Related to the Cable Franchisee WaveDivision VII, LLC (d/b/a "Wave") With Conditions
Body
RECOMMENDED ACTION (Motion):
Approve and adopt Resolution No. 17-24, consenting to the transfer of control related to the cable franchisee Wave to Radiate HoldCo, LLC ("Radiate").
BACKGROUND:
Wave is the current Franchisee under a Cable Television Franchise Agreement approved by the City of Oregon City by Ordinance 08-1002, on February 12, 2008. Wave is a wholly-owned subsidiary of WaveDivision Holdings, LLC.
On May 18, 2017, Radiate, entered into an agreement to acquire Wave from its current owners. On June 16, 2017, Radiate and Wave sent the City a Federal Communications Commission Application (Form 394) requesting transaction approval from the City.
Federal law and Section 3.7 of the Franchise authorize the City to review any proposed transfer of control and to condition approval of a transfer upon such terms and conditions as it deems reasonably appropriate within the legal, financial, and technical framework provided by the Franchise.
The City has reviewed the application materials provided by Radiate and Wave and deem it to be in the public interest to consent to the proposed transfer of control, subject to the following conditions:
1. The acquisition is completed as described in the application with no substantial change in the terms and conditions.
2. Wave is in compliance with the franchise terms at the time of the transfer of control and corrects any known violations prior to the transfer.
3. Wave, before and after the closing of the acquisition, shall remain bound by the lawful terms and conditions of the Franchise.
This resolution is effective immediately upon its adoption by the City Commission.
BUDGET IMPACT:
Amount: N/A
FY(s): N/A
Funding Source: N/A