FCC Approves Record Sales of 166 Broadcast Stations

The sales of 166 radio and television stations were approved Friday by the Federal Communications Commission--just in time for sellers to qualify for favorable year-end tax treatment of their profits.

It was the largest number of transfers approved on any one day, an FCC spokeswoman said.

A sale completed after the first of the year will fall under the new tax law, which taxes any profits from the sale of an investment property at a higher percentage.

The FCC was flooded with applications as the deadline neared, and its staff worked overtime to get the paper work in order.

Normally, routine transfer applications are approved by staff members after a 30-day comment period and do not go to the full five-member commission unless there is a serious question raised.

In this case, the full commission reviewed and voted to approve all uncontested applications, to lessen the chances that someone could come in with a frivolous complaint and delay the sale, an FCC source said. The commission review process usually takes 45 to 60 days.