PUBLIC NOTICE FEDERAL COMMUNICATIONS COMMISSION 445 12th Street, S.W. WASHINGTON, D.C. 20554 News Media Information: (202) 418-0500 Fax-On-Demand: (202) 418-2830 Internet: http://www.fcc.gov ftp.fcc.gov DA 99-1663 August 19, 1999 New Rule Now In Effect Concerning Equity/Debt Threshold For Use With Determining Eligibility for New Entrant Bidding Credit On August 5, 1999, the Commission released a Memorandum Opinion and Order, FCC 99-201, concluding that it is appropriate to attribute the mass media interests of investors holding more than a 33% equity and/or debt interest in a broadcast auction bidder claiming a New Entrant Bidding Credit, even if such an interest is non-voting. This constituted a revision in the eligibility standards for the New Entrant Bidding Credit to be used in broadcast auctions. In that decision, the Commission stated that the new rule would take effect upon approval from OMB and publication in the Federal Register. The purpose of this Public Notice is to provide notification that OMB approval has been obtained and Federal Register publication occurred today, August 18, 1999 (64 FR 44856). Therefore, the new equity/debt threshold rule is now in effect. Bidders participating in the September 28, 1999 Closed Broadcast Auction and seeking a New Entrant Bidding Credit are reminded that they will be subject to the equity/debt threshold rule as set forth in 47 C.F.R. § 73.5008(c). See Public Notice, "Closed Broadcast Auction, DA 99-1346, released July 9, 1999. Bidders that have already submitted their short forms (FCC Form 175) and have sought a New Entrant Bidding Credit must make any necessary revisions to their Form 175's prior to 5:30 PM EST on August 20, 1999 (the short form filing deadline) to take into account the new equity/debt threshold rule. For more information concerning this matter, please contact Shaun Maher of the Video Services Division, Mass Media Bureau at (202) 418-1600.