As we have previously explained, here and here, since June 19, 2014, joint sales agreements (JSAs) that allow one television station to sell more than 15% of the advertising time of another television station in the same market have been considered by the FCC to create an “attributable” ownership interest for the station (and its principals) selling the advertising time, meaning that a brokering station can only enter into such an arrangement if that station could actually own the brokered station under the FCC’s multiple ownership rules.
Parties to a JSA in effect as of June 19, 2014, that does not comply with the multiple ownership rules, were given until June 19, 2016 to: bring the JSA into compliance (by, for example, reducing the amount of time sold to 15% or less of all weekly advertising time); seek a waiver of the rule; or terminate the agreement. The STELA Reauthorization Act of 2014, enacted on December 4, 2014, extended the compliance deadline for six months, through December 19, 2016.
As a reminder, both parties to an attributable JSA have been required since November 29, 2014, to file a copy of the JSA agreement with the FCC, and each station is required to upload a copy of the JSA to its online public inspection file. All attributable JSAs entered into after November 28, 2014, must be filed with the FCC within 30 days of execution and immediately uploaded to each station’s online public inspection file.