Storer lost an appeal over a looming proxy fight.
The U.S. Circuit Court of Appeals for the District of Columbia affirmed a ruling by the Federal Communications Commission that permits a dissident shareholder group to nominate its own slate of directors without undergoing a 30-day FCC review. The FCC last month ruled that a new board would constitute a “transfer of control” requiring prior FCC approval but wouldn’t be a “substantial” change to trigger the agency’s 30-day review or permit intervention from other parties.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
