(A) If a renewal or extension of a grantee’s franchise is denied or the franchise is lawfully terminated, and the franchising authority either lawfully acquires ownership of the cable system or by its actions lawfully effects a transfer of ownership of the cable system to another person, any such acquisition or transfer shall be at a price determined pursuant to the provisions set forth in § 627 of the Cable Act, being 47 USC 521 et seq.
(B) In the case of a final determination of a lawful revocation of the franchise, at the grantee’s request, which shall be made in its sole discretion, the grantee shall be given a reasonable opportunity to effectuate a transfer of its system to a qualified third party. During such a period, the franchise authority shall authorize the grantee to continue to operate pursuant to the terms of its prior franchise. However, in no event shall such authorization exceed a period of time greater than six months from the effective date of such revocation. If, at the end of that time, the grantee is unsuccessful in procuring a qualified transferee or assignee of its system which his or her reasonably acceptable to the franchise authority, the grantee and the franchising authority may avail themselves of any rights they may have pursuant to federal or state law. The grantee may continue to operate of its system during the six-month period and it shall not be deemed to be a waiver or extinguishment of any right of either the franchising authority or the grantee.
(2011 Code, Ch. 43, Art. 5, § 5.4)