Question
From: (redacted)
Sent: Tuesday, July 25, 2006 4:00 PM
To: Verne, B.Michael
Subject: Local MarketingAgreement Question
Hi Mike,
Ihaven't talked with you in ages. In fact, I've gotten married (went from (redacted))and changed firms (went from (redacted)) since we last talked. I hope that allis going well on your end.
I just wanted to confirmthe PNO's position on Local Marketing Agreements in which a radio stationlicensee transfers the right to program and sell advertising on a station. TheLMA is entered into in connection with the purchase of the radio station. Myunderstanding is that, assuming the thresholds are met, the parties cannotcommence operations under an LMA until the HSR waiting period expires or isterminated. Is this still correct?