Every change, transfer or acquisition of control of the franchisee or of any owner of the franchisee who is named in the resolution offering the franchise shall render the franchise subject to cancellation by the board of directors of the cable television commission unless the board of directors consents thereto by duly adopted resolution pursuant to the provisions of Section 5.28.1760 of this chapter. As used in this section, the word "control" shall mean the acquisition of sufficient dominance to determine the operational and financial policies of the franchisee, including disposition of its assets. A rebuttable presumption that a transfer of control has occurred shall arise upon:
A. The acquisition or accumulation by any party or association of parties of ten (10) percent or more or the voting shares or stock of the franchisee or named owner of the franchisee;
B. A change in general partners of a franchisee or named owner of the franchisee; or
C. A merger or consolidation of the franchisee or named owner of the franchisee.
The presumption is subject to rebuttal only by determination by the board of directors of the commission. (Prior code § 20.09.756)