FCC Clears B. Riley Buy of MagicJack VocalTel's YMax Communications With Conditions
FCC staff approved transfer of magicJack VocalTel's YMax Communications, magicJack SMB and Broadsmart Global licensees to B. Riley Financial. It's conditioned on B. Riley compliance with what was in a declaration and letter of agreement (LOA) with DOJ (see 1808160028),…
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said the Wireline and International bureaus' public notice in docket 17-356 and Wednesday's Daily Digest. The PN said the LOA terms will automatically take effect if B. Riley doesn't "undertake a reorganization to remove the foreign ownership from the Licensees ownership structure" within three business days of the transaction's closing, which B. Riley said will be Nov. 14. The PN conditioned approval on B. Riley and licensee compliance, as agreed to in a Tuesday letter, with all final orders or consent decrees from FCC investigation into compliance of magicJack -- a VoIP and cloud communications provider -- with the Communications Act and commission rules, including to provide information to USF, numbering and telecom relay service administrators.