I-Mockery Forum - FCC loosens media ownership limits. Radio is dead.

Quote:

WASHINGTON (Reuters) - U.S. communications regulators on Monday narrowly approved sweeping new rules that will allow television broadcasters to expand their reach, despite fears about reducing the diversity of viewpoints.

The Republican-led Federal Communications Commission (news - web sites) voted 3-2 to allow the broadcast networks to own television stations that reach a combined 45 percent of the national audience, up from 35 percent.

Citing a need to update decades-old rules to reflect new sources of entertainment, information and news via cable television and the Internet, the FCC (news - web sites) also voted to lift a ban that prevents a company from owning both a newspaper and a television or radio station -- except in the smallest markets.

"I have heard the concerns expressed by the public about excessive consolidation," FCC Chairman Michael Powell said ahead of the vote. "They have introduced a note of caution in the choices we have made."

Companies could own two television stations in most markets as long as they are not both in the top four, based on ratings. Additionally, a company could own three stations in markets where there are at least 18 stations, like Los Angeles.

The two Democrats on the FCC opposed relaxing the regulations, arguing that the changes would concentrate ownership in the hands of a few, reduce the diversity of viewpoints and stifle reporting of local news.

"Today the Federal Communications Commission empowers America's new media elite with unacceptable levels of influence over the ideas and information upon which our society and our democracy depend," said Commissioner Michael Copps.

The FCC is required to review media ownership rules every two years but the major revamping follows federal appeals court criticism that the agency had not justified the need for them.

"Keeping the rules exactly as they are, as some so stridently suggest, was not a viable option," Powell said.

While some critics expect a rash of media mergers based on the new rules, several industry analysts have recently cautioned investors against expecting a gold rush.

The FCC kept in place a ban on mergers among the four largest television networks -- ABC owned by Walt Disney Co. (NYSE:DIS - news), CBS owned by Viacom Inc. (NYSE:VIAb - news), News Corp.'s (NCP.AX) Fox network and NBC, run by General Electric (NYSE:GE - news).

The FCC also took steps to prevent radio companies from dominating markets by revamping how markets are defined and left intact the maximum number of radio stations a company can own, up to eight in markets where there are 45 radio stations.

I had read about them considering this not long ago, but they have now voted to pass it. As if radio did not suck already, this is the nail in the coffin for decent radio.

But, It is just ludicrous that they go after Microsoft but leave Ticketmaster and Clearchannel alone. It shows exactly where their priorities lie. >:

edit: forgot link: http://story.news.yahoo.com/news?tmp...media_fcc_dc_8