FCC: “The Federal Communications Commission is planning to make sweeping changes to media-ownership rules next month, eliminating or scaling back longstanding limits on local ownership of TV stations and newspapers, its chairman said Wednesday [10-25-17].
The plan by FCC Chairman Ajit Pai, a Republican, would eliminate or reduce several regulatory barriers—including some from the 1970s—that limit ownership of multiple media outlets in the same market. Mr. Pai outlined aspects of the plan at a congressional hearing on Wednesday.
Television station owners have complained that federal rules—originally enacted in part to ensure a diversity of views—have hindered their efforts to grow and compete at a time when online competitors have made major inroads…
Relaxing regulations on local TV station ownership likely would spark a ‘bonanza’ of dealmaking among station owners, according to station broker Larry Patrick, particularly among the independent station groups that don’t share ownership with broadcast networks like ABC or Fox.”
-John D. McKinnon and Keach Hagey, “FCC to Ease Limits on Local Media Ownership,” The Wall Street Journal online, Oct. 25, 2017 07:06pm