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The FCC turned down a Storer request.

April 01, 1985

The Federal Communications Commission turned aside a request by Storer Communications that a dissident shareholder group's proxy fight be subjected to a full review because Storer owns seven TV stations. The FCC accepted the group's contention that control of the company rests with the shareholders and that a change in the membership of the board would not constitute transfer of control. The group has said it plans to try to replace Storer's directors at the May 7 annual meeting and liquidate the firm.

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