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October 26, 2017 02:00 am

FCC To Loosen TV, Newspaper Ownership Rules

The FCC is planning to vote on rolling back landmark media ownership regulations that prohibit owning a television station and newspaper in the same market and making it easier to acquire additional TV or radio stations. Reuters reports: If approved at the FCC's November meeting, the move would be a win for newspapers and broadcasters that have pushed for the change for decades, but was criticized by Democrats who said it could usher in a new era of media consolidation. The FCC in 1975 banned cross-ownership of a newspaper and broadcast station in the same market, unless it granted a waiver, to ensure a diversity of opinions. The rule was made before the explosion of internet and cable news and Republican President Donald Trump and Pai have vowed to reduce government regulation. "We must stop the federal government from intervening in the news business," Pai told a congressional panel, noting that many newspapers have closed and many radio and TV stations are struggling. Pai moved earlier this year to make it easier for some companies to own a larger number of local stations. Pai said the marketplace no longer justifies the rules, citing Facebook and Alphabet's dominance of internet advertising. "Online competition for the collection and distribution of news is greater than ever. And just two internet companies claim 100 percent of recent online advertising growth; indeed, their digital ad revenue this year alone will be greater than the market cap of the entire broadcasting industry," Pai said.

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