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A Boesky deal is the target of an FCC probe.

January 12, 1987

The Federal Communications Commission is investigating whether stock speculator Ivan F. Boesky's transfer of control of an Oklahoma City television station to his wife last month was illegal, FCC sources said. They said Boesky did not notify the agency that he controlled independent station KGMC-TV in Oklahoma City until he filed an application to transfer control last month. "If we were to find violations, and there certainly appear to be violations, it could range anywhere from a warning to a fine up to $20,000, or, in a worst-case scenario, the license would have to go into a hearing," an FCC spokesman said.

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