FCC Repeals Decades Old-Rule Limiting Dominance in Local Media Markets

FCC Repeals Decades Old-Rule Limiting Dominance in Local Media Markets

The Federal Communications Commission voted to allow a single company to own a television station, radio station and newspaper all in the same local market, which overturns a 42-year-old law aimed at preventing a single individual or company from having too much control over local coverage.

The FCC also voted to increase the number of television stations a company can own in a local market. Deadline reports FCC Chairman Ajit Pai said it’s about time and with the rule change the FCC finally dragged “its broadcast ownership rules into the digital age.”

The Street reports opponents of the move say the move will only benefit large media companies, in particular Sinclair Broadcast Group Inc., which is currently working to lobby regulars to approve its proposed nearly $4 billion acquisition of Tribune Media Co.

401(k) and IRA Balances Continue to Hit Record Levels, Fidelity Finds

401(k) and IRA Balances Continue to Hit Record Levels, Fidelity Finds

Portfolio Management Number 1 Priority for Advisers, According to Fidelity

Portfolio Management Number 1 Priority for Advisers, According to Fidelity