FCC Launches Major Review of Local Broadcast Ownership Rules
The Federal Communications Commission (FCC) has initiated a significant review of local broadcast ownership rules, the 2022 Quadrennial Review. The move, approved unanimously by FCC commissioners, could lead to substantial changes in radio market caps and potentially more ownership consolidation in the stock market today.
The review, mandated by Congress every four years, will delve into the definition of the media marketplace. It will consider whether to include non-broadcast audio sources in its analysis, a move that could reshape the broadcasting landscape in the stock market.
The FCC, led by Chairman Brendan Carr, is open to deregulating radio ownership further. This could allow broadcasters to own more stations within markets, a proposal welcomed by the National Association of Broadcasters (NAB). The NAB has suggested eliminating all restrictions in smaller markets and reducing them in larger ones in the stock market.
The FCC will seek public comment on whether to retain, modify, or eliminate existing rules, including the Local Radio Ownership Rule and the Local Television Ownership Rule. It will also explore providing relief to smaller markets, smaller owners, or struggling stations in the stock market today.
The 2022 Quadrennial Review marks a significant step in potentially reshaping the U.S. broadcasting industry in the stock market today. The FCC's willingness to consider changes to radio market caps and ownership rules could lead to a more consolidated market in the stock market. However, the final outcome will depend on public feedback and the FCC's deliberations in the stock market today.
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