FCC OKs Future Fiber/Otelco -- With Conditions

FCC staff approved Otelco's transfer of control request to Future Fiber FinCo., a public notice said Wednesday in docket 20-275. The OK is subject to conditions adopted in the Hargray/ComSouth order because Otelco's subsidiaries receive USF and fixed Connect America Fund Phase II support (see [Re:1805110048]). "The combined operating expenses of each post-consummation company’s rate-of-return affiliates shall be capped at the averaged combined operating expenses of the three calendar years preceding the transactions’ closing date for which the operating expense data are available," the PN said. The cap lasts seven years, less if the rate-of-return affiliates become model-based support companies.