You raise some interesting points GRC. I have an LPFM client in the Midwest I do VO work for and I spoke with it's OM and he brought up the same questions. In regards to Ownership going to the FCC I find:
73.865Assignment and transfer of LPFM licenses.(a) Assignment/Transfer: No party may assign or transfer an LPFM license if:
(1) Consideration promised or received exceeds the depreciated fair market value of the physical equipment and facilities; and/or
(2) The transferee or assignee is incapable of satisfying all eligibility criteria that apply to a LPFM licensee.
(b) A change in the name of an LPFM licensee where no change in ownership or control is involved may be accomplished by written notification by the licensee to the Commission.
(c) Holding period: A license cannot be transferred or assigned for three years from the date of issue, and the licensee must operate the station during the three-year holding period.
(d) No party may assign or transfer an LPFM construction permit at any time.
(e) Transfers of control involving a sudden change of more than 50 percent of an LPFM's governing board shall not be deemed a substantial change in ownership or control, subject to the filing of an FCC Form 316.
http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr;sid=bf833d1b5e3b7f49be615eeda97f0c0a;rgn=div6;view=text;node=47%3A4.0.1.1.2.7;idno=47;cc=ecfr
When going to the
WFBO site you will notice they are publishing a newspaper in August. Considering Chris Lash has done this before with a non LPFM...setting up a local shopper/newspaper for WWON Waynesboro, TN (station he owned)...one has to conclude it will be for profit (refer to the below article)
http://www.radio-info.com/content/column.php?rcID=26
http://www.theblizzard.us
Question I have is this a conflict of interest and prohibited for the LPFM being part of?
73.860Cross-ownership.(a) Except as provided in paragraph (b) of this section, no license for an LPFM station shall be granted to any party if the grant of such authorization will result in the same party holding an attributable interest in any other non-LPFM broadcast station, including any FM translator or low power television station,
or any other media subject to our broadcast ownership restrictions.
(b) A party with an attributable interest in a broadcast radio station must divest such interest prior to the commencement of operations of an LPFM station in which the party also holds an interest unless such party is a college or university that can certify that the existing broadcast radio station is not student run. This exception applies only to parties that;
(1) Are accredited educational institutions, and;
(2) Own attributable interest in non-student run broadcast stations;
(3) Apply for an authorization for an LPFM station that will be managed and operated on a day-to-day basis by students of the accredited educational institution; and
(4) Do not face competing applications for the LPFM authorization.
(c)
No LPFM licensee may enter into an operating agreement of any type, including a time brokerage or management agreement, with either a full power broadcast station or another LPFM station.
http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr;sid=bf833d1b5e3b7f49be615eeda97f0c0a;rgn=div6;view=text;node=47%3A4.0.1.1.2.7;idno=47;cc=ecfr
Also, I have heard the Chris Lash (WFBO) is affiliated with the new class A CP at 89.3 in Palm Coast. Quickly looking over that CP at the FCC site I do not see him/WFBO mentioned. I see
Hammock Eductaional and Environmental Community Services as the CP holder. Is Lash and WFBO part of Hammock? If so, wouldn't that be a comflict of the LPFM and the Non-Com licenses? Wouldn't the above 73.860 4 C state this is prohibited?
http://www.fcc.gov/fcc-bin/fmq?list=0&facid=175730
A good source for LPFM is the FCC Self Inspection Checklist (below link provided...it is PDF). Note page 6 Section E part 8 on Commercial Free operation. Also, the start of section E answers part of LPFM "ownership" rules.
http://www.publicinspectionfile.com/EB18LPFM1205.pdf