I didn't find a thing in the FCC documents about this, but found a press release from "Minority Media Telecommunications Council" which states:
"MMTC assembled an unprecedented coalition of four national media reform organizations and eleven broadcast companies, which asked the FCC to allow lower band AM stations, associated with AM expanded band stations, to be sold to small businesses rather than having their licenses surrendered. This effort has already saved 34 AM stations (nine of which are minority owned) from going off the air"
Of course, the "small business" that gets the old station can turn around and sell it immediately. In Dallas, we have had several "minority groups" apply for new rimshot FMs, such as 93.3 to the "Hispanic Coalition" only to have them LMA and then sell to a chain without broadcasting even ONE DAY in the promised format.
"MMTC assembled an unprecedented coalition of four national media reform organizations and eleven broadcast companies, which asked the FCC to allow lower band AM stations, associated with AM expanded band stations, to be sold to small businesses rather than having their licenses surrendered. This effort has already saved 34 AM stations (nine of which are minority owned) from going off the air"
Of course, the "small business" that gets the old station can turn around and sell it immediately. In Dallas, we have had several "minority groups" apply for new rimshot FMs, such as 93.3 to the "Hispanic Coalition" only to have them LMA and then sell to a chain without broadcasting even ONE DAY in the promised format.