Section 4.70.460 Transactions affecting ownership or control.

Express approval of the city council, which shall not be unreasonably withheld, shall be required where ownership or control of more than ten percent of the right of control of or interest in the franchise, is acquired by a person or group of persons acting in concert, none of whom already own or control ten percent or more of such right of control or interest, singularly or collectively. Transfer from a subsidiary to a parent corporation or vice versa shall not be considered change of control. (Ord. S-35454, 1978)