An application to transfer a franchise shall provide all information as required by the Authority including, but not limited to, complete information on the proposed transaction including details on the legal, financial, technical and other pertinent qualifications of the transferee and on the potential impact of the transfer on cable service, subscriber rates and the public interest. No sale or transfer shall take place without first obtaining the written consent of the Authority provided such consent shall not be unreasonably withheld. Should a sale or transfer occur without written consent of the Authority, the Authority shall grant to franchisee thirty days to cure by submitting an application to transfer, with shall be subject to approval by the Authority. Approval by the Authority of a transfer of a franchise does not constitute a waiver or release of any of the rights of the Authority under this Ordinance or the franchise agreement and the Authority may require written assent by any assignee to the requirements of the franchise.
Prior written approval of the Authority shall be required where ownership or control of more than ten (10%) percent of the right or control of or interest in the franchise is acquired by a person, corporation, firm, or group of persons acting in concert, none of whom already own or control ten (10%) percent or more of such right or control or interest, singularly or collectively.
Any transfer without the prior written approval of the Authority which is not cured, may, at the sole discretion of the Authority, render the franchise void.