Attachment Request for STA

This document pretains to SES-STA-20121022-00948 for Special Temporal Authority on a Satellite Earth Station filing.

IBFS_SESSTA2012102200948_972594

Request for Special Temporary Authority Special Temporary Authority is hereby requested to permit the timely consummation of the transfer of control of WATE, G.P., licensee of station E960060 and E000620. An application was filed seeking consent to the transfer of control in IB2012001960, and a fee payment was submitted pursuant to the Form 159 that was generated following the filing. However, that application went into an “Internet Not Processed” status rather than proceed through the Commission’s normal processing procedure. Five additional applications were filed and paid for at the same time seeking the identical consent to transfer of control as requested herein, and all have proceeded to normal processing. Consent is sought to the transfer of control of earth station facilities that are used in connection with certain of the television broadcast stations owned by subsidiaries of New Young Broadcasting Holding Co., Inc. (“New Young”). In the transaction, the shareholders of New Young are transferring control of the company to Standard General Fund L.P., which will become the sole majority shareholder of New Young. Standard General Fund L.P., a Delaware limited partnership, along with its subsidiary, Standard General Communications LLC, a Delaware limited liability company, (collectively, “Standard General”) holds a combination of Class A voting shares and warrants issued by New Young. The warrants are convertible upon exercise to shares of Class A voting stock. At this time, Standard General seeks to exercise its right to convert its warrants, which would result in Standard General becoming the sole majority shareholder of New Young. The general partner of Standard General Fund L.P. is Standard General GP LLC, a Delaware limited liability company. 1 The Managing Member of Standard General GP LLC is Standard General Management LLC, a Delaware limited liability company. The Managing Member of Standard General Management LLC is Acme Amalgamated Holdings LLC (“Acme”). The Managing Member of Acme is Soohyung Kim. Accordingly, Mr. Kim controls Standard General. Grant of the instant request would serve the public interest as it would allow for the timely consummation of the proposed transaction, as well as the continuation of New Young’s business operations with the benefit of the earth station facilities on which its television broadcast operations rely to relay programming. 1 Standard General Fund L.P. holds 100% of the equity of Standard General Communications LLC. The manager of Standard General Communications LLC is Standard General Holdings L.P., which is ultimately owned and controlled by Mr. Kim. The contractual manager of Standard General Fund L.P. is Standard General L.P., whose General Partner is also Standard General Holdings L.P., and is thus ultimately owned and controlled by Mr. Kim. The address for each of the Standard General entities and Mr. Kim is: 441 Lexington Avenue, 17th Floor, New York, New York 10017.


Document Created: 2012-10-22 22:57:25
Document Modified: 2012-10-22 22:57:25
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