Transfer of ownership or control.
Springfield, Ill., City Code § 103.45
in effect§ 103.45. - Transfer of ownership or control.
(a) Except as otherwise provided in a franchise agreement, the franchise shall not be assigned, transferred, pledged, leased, sublet, hypothecated, or mortgaged, either in whole or in part, disposed of, transferred in trust, pledged in whole or in part, by voluntary sale, merger, sale, and leaseback consolidation or otherwise, or by forced or involuntary sale, without prior consent of the city, not to be unreasonably withheld, expressed by ordinance and then on such conditions as therein may be prescribed. Any sale, transfer, or assignment not made according to the procedures set forth in this article shall render a franchise agreement void. The sale, transfer, or assignment in bulk of the major part of the tangible assets of a grantee shall be considered an assignment and shall be subject to the provisions of this section.
(b) Any sale, transfer, or assignment authorized by the city shall be made by a bill of sale or similar document, an executed copy of which shall be filed with the city within 30 days after such sale, transfer, or assignment. The city shall not withhold its consent unreasonably. The transferee must, at a minimum, satisfy the legal, financial, and technical qualifications as established by the act (47 U.S.C. § 537) and character qualifications. Grantee shall assist the city in such inquiry regarding these qualifications.
(c) In no event shall a transfer of ownership or control be approved without the successor(s) in interest to the franchise agreement agreeing in writing to comply with the terms, obligations, and conditions of the franchise agreement.
(d) Prior approval of the city shall be required where ownership or control of more than 25% of the right of control of a grantee acquired during the term of the franchise in any transaction or series of transactions by a person or group of persons acting individually or in concert, none of whom owned or controlled 25% singularly or collectively, on the effective date of the franchise agreement.
The word "control" as used herein is not limited to major stockholders but also includes actual working control in whatever manner exercised. By its acceptance of the franchise agreement, a grantee specifically grants and agrees that any such acquisition occurring without a prior approval of the city shall render the franchise void.
(e) A grantee shall submit a petition to the city requesting the city's approval before a grantee takes any action in furtherance of accomplishing any such assignment, sale, transfer, pledge, lease, sublet, hypothecation, or mortgage, containing or accompanied by such information as is required in accordance with FCC regulations and by the city. Upon request for additional or supplemental information concerning said petition, or clarification of information submitted in the petition, the city shall have 30 days from the date of receipt of the petition to request said information, and the grantee shall have ten days to respond. The city shall have 120 days to act upon any request for approval of any such assignment, sale, transfer, pledge, lease, sublet, hypothecation, or mortgage. The city shall be deemed to have consented to a proposed assignment, sale, transfer, pledge, lease, sublet, hypothecation, or mortgage if its refusal to consent is not communicated in writing to the grantee within 120 days following receipt of said petition and receipt of all necessary information as to the effect of the proposed assignment, sale, transfer, pledge, lease, sublet, hypothecation, or mortgage upon the public, unless the requesting party and the city agree to an extension of time in accordance with the Cable Act and applicable federal regulations.
(f) The consent or approval of the city to any assignment, sale, transfer, pledge, lease, sublet, hypothecation, or mortgage, shall not constitute a waiver or release of the rights of the city under this article and a franchise agreement.
(g) In the absence of extraordinary circumstances, the city shall not be required to approve any transfer or assignment of a franchise prior to substantial completion of construction or reconstruction of the cable system.
(h) Upon approval by the city council of an application for sale, transfer, or delegation of the cable system, the city shall provide to the grantee an itemized statement of its direct costs and expenses incurred by the city for the processing and review of the petition for transfer, sale, or delegation. The grantee or the transferee shall agree to pay for the aforementioned itemized costs.
(Ord. No. 613-11-02, § 1, 11-19-02)
Source: City of Springfield, Illinois, Code of Ordinances (Municode Library, library.municode.com)URL: https://library.municode.com/il/springfield/codes/code_of_ordinances?nodeId=TITIXGERE_CH103CATE_ARTIICACOSY_S103.45TROWCOFetched: 11/8/2026