Ex-Alpha Media CEO Wilson Accuses Current Leadership of Deceiving FCC

to deny foreign-ownership filings for the radio broadcaster’s bankruptcy restructuring. The Wednesday filing asks the FCC to deny the petitions or designate the matter for hearing. The petition is “based on inaccurate information and baseless claims,” said an Alpha spokesperson Friday. “We continue to achieve significant progress in our financial restructuring process, which has been confirmed by the Court and best positions Alpha Media with strong financial partners to navigate current market conditions.” Wilson said the restructuring is “a prepackaged bankruptcy plan” that would “erase the obligations owed to secured and unsecured creditors and minority stockholders” and swap out minority shareholders "in favor of proposed foreign-owned lenders and stockholders.” By failing to comply with its corporate governing documents, Alpha bypassed its board on decisions such as station divestitures, and concentrated power within the company to two members of a special committee, Wilson said. That amounts to an unauthorized transfer of control, the petition said. “There is no doubt” that Proffitt “falsely certified to the FCC that he was ‘authorized’ to sign multiple assignment applications selling certain of Alpha’s stations to third parties,” Wilson said. A broadcast attorney told us the FCC historically doesn’t involve itself in licensees' internal disputes, but the filing argues that FCC oversight has “heightened importance” here because Alpha isn’t publicly traded and therefore doesn’t fall under the SEC. Alpha has “fundamental character defects” that “call into question the applicant’s qualifications as a broadcast licensee,” the filing said. The FCC didn't comment.