Prior approval of the council, which shall be not unreasonably withheld, shall be required where ownership or control of more than thirty percent (30%) of the right of control of grantee is acquired by a person or group of persons acting in concert, none of whom already own or control thirty percent (30%) or more of such right of control, singularly or collectively. By its execution of the franchise agreement, the grantee specifically grants and agrees that any such acquisition occurring without prior approval of the council shall constitute a violation of this chapter by the grantee. (Ord. 761 §30, 1995)