; and (II) selected by the established broadcaster; or (iii) if the established broadcaster had effective control of an AM or FM radio broadcast station (except for a low power radio station or a radio translator station) and a television broadcast station (except for a low power television station or a television translator station) on the day before the date on which the established broadcaster and the emerging broadcaster submitted the application for the Program under subsection (d), either (at the option of the established broadcaster)— (I) 1 radio broadcast station in excess of the number of radio broadcast stations in which the established broadcaster is permitted to hold a cognizable interest under section 73.3555(a) of such title in a radio market determined in the same manner as under clause (i); or (II) 1 television broadcast station in excess of the number of television broadcast stations in which the established broadcaster is permitted to hold a cognizable interest under section 73.3555(b) of such title in a DMA determined in the same manner as under clause (ii). (2) Determination of Commission described The determination described in this paragraph is a determination that an established broadcaster and an emerging broadcaster have entered into and are successfully carrying out a qualifying incubation relationship under the Program in accordance with an application approved by the Commission under subsection (d) and are in compliance (with respect to such relationship) with the other requirements for the Program established by the Commission. (3) Specification of radio markets and DMAs (A) In general The radio markets or DMAs (as the case may be) specified in this subparagraph are— (i) if the highest-ranked radio market or DMA in which an incubated station under the qualifying incubation relationship is located is ranked not lower than 25, all radio markets or DMAs