Southwestern Publishing Co. v. Ney

Carleton Harris, Chief Justice.

American Television Co., Inc., (hereinafter called American) held a construction permit issued by the Federal Communications Commission for a Channel 5 television station in Fort Smith. H. S. Nakdimen was the sole stockholder and president of American. Appellee, George T. Hernreich, held an option to purchase 50% of the stock of American. Hernreich and American agreed, by written contract, to assign said construction permit to appellant for a monetary consideration subject to approval of the Federal Communications Commission.1 The assignment agreement obligated…