A grantee’s right, title or interest in the franchise shall not be sold, transferred, assigned or otherwise encumbered, other than to an entity controlling, controlled by, or under common control with a grantee, without the prior consent of the city, the consent not to be unreasonably withheld. No consent shall be required, however, for a transfer in trust, by mortgage, by other hypothecation or by assignment of any rights, title or interest of a grantee in the franchise or cable system in order to secure indebtedness. Within 30 days of receiving a request for transfer, the city shall notify a grantee in writing of any additional information it reasonably requires to determine the legal, financial and technical qualifications of the transferee. If the city has not taken action on a grantee’s request for transfer within 120 days after receiving the request, consent by the city shall be deemed given.
(1992 Code, § 44-72) (Ord. 104-09, passed 11-16-2009)